-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
JGBs Keep Pushing Higher, U.S. Tsys & ACGBs Lose Initial Allure
JGBs maintained bullish momentum, diverging from U.S. Tsys and Aussie bonds which lost their initial strength. The prospect of hawkish FOMC action loomed large at the end of a week that witnessed fresh rounds of bullish Fedspeak.
- The initial uptick in T-Notes proved short-lived, with the contract plunging in afternoon trade and probing the water below Thursday's worst levels. TYM2 last changes hands -0-03+ at 120-14, hovering just above the session low of 120-11. Eurodollar futures run 1.5-6.0 ticks lower through the reds. Twist steepening evident in cash Tsy space, with yields last seen +4.1bp to -2.3bp across the curve. Wholesale inventories headline the U.S. docket on Friday.
- 10-Year Aussie bond futures moved in tandem with T-Notes, XM trades -6.0 when this is being typed. Bills run 1-4 ticks lower through the reds. Cash ACGB curve has bear steepened, with yields last seen 1.5bp-5.7bp higher, as Aussie bonds played catch up with impetus from the NY session. The RBA released the semi-annual Financial Stability Review, in which it warned against "elevated" medium-term systemic risks.
- JGB futures re-opened on a firmer footing and extended gains thereafter, posting a sharp upswing just after the Tokyo lunch break. JBM2 trades at 149.51 at typing, 4 ticks above last settlement. Cash trade saw JGBs register gains, with yields depressed across the curve, with the super-long end leading gains. Participants kept an eye on the scheduled round of 1-10 Year Rinban operations but purchase sizes were unchanged, albeit it is worth flagging downticks in bid/cover ratios, which may have supported underlying bullish momentum in afternoon trade:
- 1- to 3-Year: 2.62x (prev. 3.02x)
- 3- to 5-Year: 1.90x (prev. 2.64x)
- 5- to 10-Year: 1.86x (prev. 1.92x)
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.