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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.
US
- The 5Y inflation breakeven has seen further solid declines already this year after considerable progress in 2022, currently down ~13bps at 2.25%, but struggles to move much lower at levels it hasn’t held for long in the post-pandemic period (vs 1.8% averaged through 2017-19).
- Today’s rally in Treasuries has been driven by real yields, with the breakeven nudging 2bps higher and taking it back to levels prior to Friday’s AHE/ISM Services misses.
- It’s possible that renewed hawkish rhetoric from Powell tomorrow is required to keep breakevens at a similar level or lower.
5Y breakevenSource: 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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