MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

RPT-MNI INTERVIEW: Canada Budget Leans To Largesse-CFIB's Kelly

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

EZ Final Inflation Confirms Flash, But Services Contribution Up

Contributions to the Y/Y change in CPI

Restaurants and hotels drive the upside surprise at first glance

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

Long End Continues To Weaken, Fed Speakers Eyed

US TSYS SUMMARY

Tsys have been heading lower (within Tuesday's ranges) in the European morning as equities have bounced. A trio of Fed heavy hitters highlight Wednesday's calendar, with 2Y FRN and 5Y supply for good measure.

  • Mar 10-Yr futures (TY) down 1/32 at 135-12.5 (L: 135-11.5 / H: 135-23). The long-end continues to get hit hard: the 2-Yr yield is up 0.4bps at 0.1152%, 5-Yr is up 1bps at 0.5762%, 10-Yr is up 2.7bps at 1.3688%, and 30-Yr is up 4.7bps at 2.2272% (highest since Jan 2020).
  • Equities have proven resilient, bouncing Tuesday of course but also from lows overnight Wednesday. Dollar a little softer.
  • Judging from Fed Chair Powell's Senate appearance Tuesday which basically hit all of the same notes he'd repeated previously, there's unlikely to be much to move the market in Wednesday's House testimony - but still bears watching (starts 1000ET, same prepared text as yesterday).
  • More impactful perhaps will be Gov Brainard at 1030ET, and/or Vice Chair Clarida at 1300ET (then later at 1600ET).
  • Today's data consists of Jan New Home Sales at 1000ET.
  • In supply, 1130ET sees auctions of $30B 119-day bill and $26B 2Y FRN; at 1300ET, $61B 5Y Note. NY Fed buys $3.625B of 7-20Y Tsys.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.