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

MNI China Daily Summary: Wednesday, March 29

MNI BRIEF: Austria Inflation To Outstrip Euro Average Into 2025

MNI BRIEF: China To Limit Coal, Build New Power Network - NDRC

MNI: UK BOE FEB MORTGAGE APPROVALS 43,536

MNI: UK FEB M4 MONEY SUPPLY -0.4% M/M, +1% Y/Y

Economic Tendency Improves, Feb Retail Data Contracts Further

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

MNI BRIEF: FDIC To Conduct Review Of Deposit Insurance

MNI BRIEF: Fed's Barr: Will Use All Tools To Keep Banks Safe

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: Implied Hike Steady After In-Line Data

US TSYS
BulletMarketsFixed Income NewsHomepage

Tsys holding weaker levels at midday, off late morning highs to near middle of range through early overnight trade. Tsy 30YY currently 3.6479 +.0082, vs. 3.6845% high)

  • Higher than expected Japanese CPI data overnight (+4.4% Y/Y; MEDIAN 4.0%; Dec 3.9%) got the ball rolling overnight, Tsys extending lows ahead the NY open.
  • Tsys see-sawed off lows drawing modest buying in intermediates to long end after largely in-line data: personal income +0.2%; NOM PCE -0.2%, modest lower revision to prior. Little react to midmorning Pending Home Sales (+2.5% MOM; -33.8% YOY) and UofM sentiment 64.9; est. 64.6.
  • Fed funds implied hike for Feb'23 at 25.8bp (-0.8), Mar'23 cumulative steady at 46.9bp to 4.798%, May'23 56.8bp to 4.897%, terminal at 4.905% in Jun'23.
  • Focus on next week Wed's FOMC policy annc, dovish risks to this meeting appear at least partly priced in, including some expectations of Statement language acknowledging decelerating inflation, or a clear signal that the end of the hiking cycle is near.
  • Next employment report covering January out next Friday as well, current median est at +175k vs. +223k prior.
176 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.

Tsys holding weaker levels at midday, off late morning highs to near middle of range through early overnight trade. Tsy 30YY currently 3.6479 +.0082, vs. 3.6845% high)

  • Higher than expected Japanese CPI data overnight (+4.4% Y/Y; MEDIAN 4.0%; Dec 3.9%) got the ball rolling overnight, Tsys extending lows ahead the NY open.
  • Tsys see-sawed off lows drawing modest buying in intermediates to long end after largely in-line data: personal income +0.2%; NOM PCE -0.2%, modest lower revision to prior. Little react to midmorning Pending Home Sales (+2.5% MOM; -33.8% YOY) and UofM sentiment 64.9; est. 64.6.
  • Fed funds implied hike for Feb'23 at 25.8bp (-0.8), Mar'23 cumulative steady at 46.9bp to 4.798%, May'23 56.8bp to 4.897%, terminal at 4.905% in Jun'23.
  • Focus on next week Wed's FOMC policy annc, dovish risks to this meeting appear at least partly priced in, including some expectations of Statement language acknowledging decelerating inflation, or a clear signal that the end of the hiking cycle is near.
  • Next employment report covering January out next Friday as well, current median est at +175k vs. +223k prior.