© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: POWELL-NON-HOUSING SERVICES INFLATION SHOWS PERSISTENCE

MNI: FED'S POWELL-TIGHTER CREDIT MEANS RATES MAY NOT NEED TO RISE AS MUCH

Rpt-MNI INTERVIEW: Higher ECB Peak Means Faster To Cut-Simkus

MNI DATA FORECASTS: Flash PMIs In Market's Eyesight

EZ/UK Bond Supply Calendar: EU Bonds & UK APF Sales on Monday

MNI: CANADIAN MAR RETAIL SALES -1.4%; SALES EX-AUTOS/PARTS -0.3%

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Market Roundup: 2Y Leads Sell-Off While Mid-Year Rate Cut Persists

US TSYS
BulletMarketsFixed Income NewsHomepage
  • Front month Treasury futures are trading near midmorning lows heading into midday, well off overnight highs tapped during early London trade with markets apparently fading various Central Bank efforts to stem regional bank panic.
  • Risk improved briefly after liquidity operations through standing U.S. dollar liquidity swap line arrangements, and UBS's $3.25B takeover of Credit Suisse while the Swiss National Bank, both announced Sunday.
  • Questions over credit risk remain after CS' AT1 bond rout with holders of $17B debt taking the loss in full. A distracting narrative ahead of this Wednesday's FOMC policy announcement, the collapse of Silicone Valley Bank and Signature Bank over a week ago continues to weigh on regional banks (FRC -26%).
  • While the collapse in financial share has loosened policy expectations from how many 50bp rate hikes by year end, to how soon will the Fed cut rates (implied pricing targeting July this morning), short end rates are currently swinging lower (2Y yield currently 3.9177% +.0803), yield curves bear flattening amid ongoing wide ranges: 2s10s tapped -53.105 low recently, appr 12bp flatter at midday.
177 words

To read the full story

Why Subscribe to

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.
  • Front month Treasury futures are trading near midmorning lows heading into midday, well off overnight highs tapped during early London trade with markets apparently fading various Central Bank efforts to stem regional bank panic.
  • Risk improved briefly after liquidity operations through standing U.S. dollar liquidity swap line arrangements, and UBS's $3.25B takeover of Credit Suisse while the Swiss National Bank, both announced Sunday.
  • Questions over credit risk remain after CS' AT1 bond rout with holders of $17B debt taking the loss in full. A distracting narrative ahead of this Wednesday's FOMC policy announcement, the collapse of Silicone Valley Bank and Signature Bank over a week ago continues to weigh on regional banks (FRC -26%).
  • While the collapse in financial share has loosened policy expectations from how many 50bp rate hikes by year end, to how soon will the Fed cut rates (implied pricing targeting July this morning), short end rates are currently swinging lower (2Y yield currently 3.9177% +.0803), yield curves bear flattening amid ongoing wide ranges: 2s10s tapped -53.105 low recently, appr 12bp flatter at midday.