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 surge higher in Treasury yields has been driven entirely by real yields (5Y +17bps, 10Y +12.5bps), helping weigh on risk sentiment in the process.
- It means inflation breakevens have broadly kept to the small decline seen over the past week having popped higher in the second half of July.
- The 5Y breakeven of 2.68% may be within 20bps of pre-taper levels but remains historically elevated [chart pink line], although the longer-term 5Y5Y breakeven of 2.31% [green] and 5Y5Y inflation swap of 2.58% [yellow] are closer to pre-pandemic levels.
US inflation expectations per text plus WTI 1st future (orange)Source: 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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