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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
- Today’s general tone of some progress towards a debt deal plus Treasury offering sizeable issuance for settlement on the possible “x-date” of Jun 1 has seen Jun 1 T-bill yields swing back to 5.5% having fleetingly touched 7% yesterday and a high of 6.9% today.
- Earlier auction details showed an increase of $6B for the 3-month and $2B for the 6-month vs their last auctions, with those plus the $50B long-ish dated cash management bill (161 days) all settling on the possible "x-date" of June 1. Those sizes were all on the high end of (admittedly highly uncertain) expectations.
- Meanwhile in politics, Reuters earlier reported Biden-McCarthy as edging close to a deal on the U.S. debt ceiling, with the parties just $70 billion apart on discretionary spending..." whilst GOP debt negotiator Graves said a deal by Jun 1 is a “top priority” and then subsequently that have made a little bit of progress but still with “a lot of more to do”.
Jun 1 t-bill yieldSource: 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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