MNI BRIEF: BOJ To Mull Hikes If 2% Probability Rises - Ueda

MNI BRIEF: Case For ECB Cuts Strengthening, Accounts Show

MNI INTERVIEW2: Germany Faces Stagnation -Former Experts Chair

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: EUROZONE FEB RETAIL SALES -0.5% M/M, -0.7% Y/Y

Retail Sales Unlikely To Improve Notably In The Months Ahead

UK MAR CONSTRUCTION PMI 50.2 (FCAST 49.9); FEB 49.7

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

Market Roundup: Tsy Yld Curves Bear Flatten on Hawkish Hold from ECB

US TSYS
Rates trading weaker in late morning trade, near middle of session range, curves see-sawing flatter amid decent short end selling. Block/crosses weighing on the short end, 2YY hit 2.8401% high while 2s10s slipped -3.471 to 21.532 low.
  • Not much of a reaction to weekly claims coming out higher than exp at 229k (+22k) vs. 207k est, continuing claims largely in-line at 1.306M.
  • Focus more on the ECB hawkish hold policy annc prior to the NY open: rates extended lows on guidance of additional rate hikes in Sep and on w/potential for 50bp move anticipated; APP will end in July 1.
  • Tsy market getting ready for $19B 30Y Bond re-open auction at the top of the hour, WI currently running around 3.190%, 19.3bp cheaper to last month's high yield stop.
  • Technicals for TYU2 at 117-26.5 (-8): Short-term conditions remain bearish w/ 10s trading below the 50-day EMA - at 120-00. This EMA represents a key resistance and a clear break would allow for a stronger recovery towards 122-00.
  • The recent move away from the average continues to suggest the correction between May 9 - 26 is over. A continuation lower would open key support at 116-21, May 9 low.
  • Friday Focus: May CPI w/ estimates more than twice April currently around 0.7%.
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.