MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Little React To Nov FOMC Minutes, Watching Financial Conditions Closely

US TSYS
  • Treasury futures are firmer for the most part, 30Y Bond still mildly weaker vs. the balance of the strip. Still inside a narrow session range, markets showed little reaction to the November FOMC minutes.
  • Fed officials believed tighter financial conditions could lessen the need for additional monetary tightening as they decided to hold interest rates steady for the second straight meeting earlier this month. “Financial conditions had tightened significantly in recent months,” the minutes said. “Persistent changes in financial conditions could have implications for the path of monetary policy and it would therefore be important to continue to monitor market developments closely.”
  • Tsy futures had extended highs after this morning's lower than expected Existing Home Sales data (3.79M vs. 3.9M est, 3.95M prior/rev), MoM (-4.1% vs. -1.5M est, -2.2% prior/rev).
  • Dec'23 10Y futures had tapped 109-03.5 high (+8.5), pared gains after the 10Y TIPS auction drew 2.180% yield vs. 2.94% prior. TYZ3 trades 108-30.5 last, still well above initial technical support below at 108-04 (50-day EMA). Initial technical resistance at 109-08+ (High Nov 17).
  • Heavy volumes (TYZ3 >2.7M) is due to a surge in quarterly futures rolling ahead First Notice on Nov 30.
  • Reminder: shortened Thanksgiving holiday week: full session Wednesday sees weekly claims, durables/cap-goods and UofM conditions/inflation expectations., Thursday close, Friday early close.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

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.