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Free AccessLight Pressure As Bowman Points To Potential For Further Hikes
Comments from Fed Governor Bowman, noting that the recent economic data have not provided evidence that inflation is on a clear downward path and the Federal Reserve may need to tighten monetary policy further, bias Tsys cheaper in recent trading. That leaves the major benchmarks 0.5-1.5bp cheaper across the curve, with intermediates leading the weakness. TYM3 (and the broader space) trades to fresh session cheaps, although the moves settle off of extremes. FOMC-dated OIS nudges a couple of bp higher across the strip.
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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.