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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
MNI POLITICAL RISK - Thune Eyes 'Deficit-Negative' Legislation
Markets Roundup: Extending Highs
- Tsy futures are extending session highs again in the last couple minutes, latest headlines from Fed Daly, Mester and Barr are on the dovish side of balanced: Barr "more work to do but close to the end"; Daly "risks becoming less unbalanced, fed decisions getting harder, more data reliant".
- Curves paring back from earlier steeper levels (2s10s currently +1.466 at -87.585) as short end lags in latest move (not to mention over 20,000 TUU3 block sales various prices this morning).
- Currently, Sep'23 10Y futures are +12 at 111-01.5 high, initial technical resistance at 111-15, July 6 high.
- Projected rate hike expectations holding steady to this mornings levels: July 26 FOMC is 89% w/ implied rate of +22.2bp to 5.298%. September fully pricing hike w/ cumulative of +28bp at 5.355%, November cumulative of 34.4bp at 5.42%, December cumulative 29.7bp at 5.373%. Fed terminal holding at 5.415% in Nov'23.
- Focus remains on latest CPI data this Wednesday.
To read the full story
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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.