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Looking ahead to the Fed Minutes

BONDS
  • By recent standards, core fixed income markets have been rather un-volatile this morning and has taken a bit of a breather following yesterday's big moves.
  • Treasuries are up a little on the day while gilts and Bunds are a little lower.
  • Data this morning has not been too market moving, nor have a slew of ECB speakers.
  • Attention will turn later to US durable good and the FOMC Minutes.
  • The Fed Minutes later will be watched for any further views on the terminal rates, the likelihood of any 75bp hikes and the triggers for slowdown to 25bp hikes.
  • TY1 futures are up 0-6+ today at 120-18+ with 10y UST yields down -1.2bp at 2.741% and 2y yields down -1.6bp at 2.501%.
  • Bund futures are down -0.03 today at 153.91 with 10y Bund yields down -2.2bp at 0.943% and Schatz yields down -1.3bp at 0.353%.
  • Gilt futures are down -0.26 today at 118.86 with 10y yields down -0.4bp at 1.882% and 2y yields down -0.8bp at 1.431%.

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