Free Trial

Market Roundup: StL Fed Bullard in Barcelona

US TSYS
US Tsy futures finished lower on exceptionally light volumes Monday: TYU2 only 45k since after the open to 210k at the moment, GLOBEX electronic trade suspended, will re-open at 1800ET.
  • No economic data or significant headline risk as cash rates and stock exchanges closed in observance of Juneteenth holiday.
  • StL Fed Pres Bullard is discussing interest rates and inflation to the AXA-Barcelona School of Economics at the moment, Q&A forthcoming. "Inflation in the U.S. is far above target and is at levels last seen in the 1970s and early 1980s. This situation is risking the Fed’s credibility with respect to its inflation target," Bullard said, adding "U.S. inflation expectations could become unmoored without credible Fed action."
  • US 30Y Bond futures have inched off midday lows, USU2 -18 at 134-03.
  • Otherwise, no obvious headline driver weighing on rates, hard to call the move risk-on though SPX emini equity futures holding near session highs, ESU2 +40.0 3715.75.

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.