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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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- 5Y and 10Y breakevens have recently edged lower and are now down -2bps on the day, with flat to higher nominal yields driven by real yields climbing (5Y +2bps, 10Y +5bps).
- It leaves the 5Y and 10Y breakeven at 2.23% and 2.17% respectively, within a handful of basis points off mid-Dec and late-Sep lows that were otherwise last seen in early 2021 [chart top panel].
- Whilst small in absolute terms compared to recent shifts, the day’s relatively small climb in real yields appears to have helped limit the day’s equity rally [bottom panel].
5Y breakeven (yellow), 10Y b/e (white), Fed Funds upper bound (red), real yield (green) and ES1 (purple)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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