MNI: Japan Govt Keeps Economic Assessment, Ups Imports

MNI BRIEF: China Supports Globalisation Despite Turbulence

MNI: PBOC Net Injects CNY11.0 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1910 Tues; -1.46% Y/Y

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: UK NOV BRC SHOP PRICES +0.2% M/M, -0.6% Y/Y

MNI: JAPAN OCT SERVICES PPI +2.9% Y/Y; SEPT REV +2.8%

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Markets Roundup: Bull Flattening Extends Ahead 30Y Re-Open Sale

US TSYS
  • Treasury futures are extending highs for the second time after an initial knee-jerk bid Knee-jerk bid after PPI +0.1% vs. -0.1% est quickly reversed on weekly claims decline of 12k to 237k vs . 250k est.
  • Curves running mixed: 3M10Y -8.734 at -162.362 (still above late June lows), while 2s10s remains steeper, but off highs (2s10s +4.850 at -84.245 vs. -82.676 high).
  • In-line with short-end support, rate-hike projections have cooled in later dates: July 26 FOMC is 91% w/ implied rate of +22.8bp to 5.302%. September cumulative of +25.6bp at 5.33%, November cumulative of 28.9bp at 5.364%, December cumulative slips to 21.1bp vs. 31.7bp late Tuesday. Fed terminal has slipped to at 5.36% in Nov'23.
  • Little react to San Francisco Fed Pres Mary Daly on CNBC earlier: "It's too early to say that we can declare victory on inflation," she said. "This month of data is very positive, I hope it's part of a downward trend in inflation. But I remain in a wait-and-see mode on that because I remain resolute to bring inflation back down to 2%."
  • Despite post-CPI, carry-over support in 10s, medium-term trend remains down and the latest recovery is likely part of a short-term corrective cycle. The contract has cleared the 20-day EMA and attention turns to a key resistance area at the 50-day EMA, at 113-12. A clear break of this average would strengthen a bullish theme. Key support and the bear trigger has been defined at 110-05, the Jul 6 low.
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.