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Global Macro
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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EUROPEAN MARKETS ANALYSIS: US Yields Tick Up, JGBs Steady
MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday
Market Roundup: Yields Climbing Post Data, ISMs on Tap
New quarter underway with FI markets extending post-data lows, bonds through early Wednesday lows (USM2 147-29, -2-05), 30YY taps 2.5416 high.
- Heavy two-way trade post-data, short end back to pricing in more aggressive/multiple 50bp rate hikes for year (216bp by year end vs. 220bp on Monday). ISMs and Construction Spending data coming up at 1000ET.
- Broad-based inversions vs. 10s: yield curves bear flattened -- 2s10s slipped to -2.610 low is holding around steady now, 5s10s slips to -14.958 low, currently at -13.422.
- TYM2 currently at 121-27.5 (-1-00.5), eying key resistance of 120-30+ Low Mar 28 and the bear trigger where a break would confirm a continuation of the downtrend and would open the 120-00 handle.
- Decent jobs data (431k vs. 490k est but Fed up-revision of 95k and unemployment rate drop to 3.6%) underpinned stocks with some recent selling pushing SPX eminis to around 4528.0 (-2.75).
- Current cross asset: West Texas Crude (WTI) well off pre-open lows of 97.85 at $100.15; Gold -5.10 at $1932.34.
To read the full story
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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.