MNI: US HOUSE FINANCIAL SERVICES ANNOUNCES HEARING ON SVB, SIG

MNI BRIEF: Canada Feb Teranet Home Price Index Record -11% YOY

MNI China Daily Summary: Friday, March 17

MNI DATA FORECASTS: Fed, BOE To Lead

Fed Watch

MNI: US FEB INDUSTRIAL PROD +0.0%; CAP UTIL 78.0%

MNI BRIEF: Fed, Treasury, FDIC-Big Banks Back First Republic

MNI BRIEF: Trudeau Justified Using Emergency Act, Judge Finds

MNI: Canada Boosting Health Spending CAD46.2B Over 10 Years

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: US HOUSE FINANCIAL SERVICES ANNOUNCES HEARING ON SVB, SIG

USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Corrective Cycle

EURJPY TECHS

Corrective Bounce

US

US Voters Support Bank Rescue Measures But Consider It A "Bailout"

USDJPY TECHS

Short-Term Trend Needle Points South

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 Access
Trending Top 5
Market News Topics

Late Market Roundup: Yields Higher Ahead Fri's Personal Income

US TSYS
BulletMarketsFixed Income NewsHomepage

Tsys have another whip-saw session, weaker across the board after the bell (30YY 3.6207% +.0270) to near mid-range for the session, yield curves flatter after spending much of the day steeper (2s10s -1.022 at -69.981). Robust volumes on two-way trade (TYH3>1.1m).

  • Tsys extend lows (30YY taps3.662% high) before bouncing slightly after Q4 GDP climbs 2.9% (annual rate) - higher than estimated 2.6%, The real GDP beat for the Q4 advance was much less flattering in the details, heavily boosted by changes in inventories swinging from -1.2 to +1.5pps. Weekly claims lower than exp at 186k vs. 205k est, Core Durables beat and New Home Sales stabilized.
  • Tsys pared losses after strong $35B 7Y note auction (91282CGJ4) breaking string of three consecutive tails w/ 3.517% high yield vs. 3.537% WI; 2.69x bid-to-cover vs. 2.45x last month. Also of note - January was clean-sweep for Tsy coupon/bond auctions, every one trading through this month.
  • Fed funds implied hike for Feb'23 at 26.4bp, Mar'23 cumulative 46.9bp to 4.798%, May'23 56.8bp to 4.897%, terminal at 4.895% in Jun'23.
  • Focus turns to Friday's personal income (+0.1% vs. +0.4%) and spending (-0.3% vs. +0.1%) release, last component ahead next week Wed's FOMC policy annc.
194 words

To read the full story

Why Subscribe to

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.

Tsys have another whip-saw session, weaker across the board after the bell (30YY 3.6207% +.0270) to near mid-range for the session, yield curves flatter after spending much of the day steeper (2s10s -1.022 at -69.981). Robust volumes on two-way trade (TYH3>1.1m).

  • Tsys extend lows (30YY taps3.662% high) before bouncing slightly after Q4 GDP climbs 2.9% (annual rate) - higher than estimated 2.6%, The real GDP beat for the Q4 advance was much less flattering in the details, heavily boosted by changes in inventories swinging from -1.2 to +1.5pps. Weekly claims lower than exp at 186k vs. 205k est, Core Durables beat and New Home Sales stabilized.
  • Tsys pared losses after strong $35B 7Y note auction (91282CGJ4) breaking string of three consecutive tails w/ 3.517% high yield vs. 3.537% WI; 2.69x bid-to-cover vs. 2.45x last month. Also of note - January was clean-sweep for Tsy coupon/bond auctions, every one trading through this month.
  • Fed funds implied hike for Feb'23 at 26.4bp, Mar'23 cumulative 46.9bp to 4.798%, May'23 56.8bp to 4.897%, terminal at 4.895% in Jun'23.
  • Focus turns to Friday's personal income (+0.1% vs. +0.4%) and spending (-0.3% vs. +0.1%) release, last component ahead next week Wed's FOMC policy annc.