Free Trial

Marking Session Highs

US TSY FUTURES
  • Brief consolidation around the NY open was just that, as Treasury futures extend session highs in 10s (114-29, +8, yield taps 3.509% low) in the last few minutes. Not much of a market reaction expected from S&P Global PMIs at 0945ET, carry-over support follows Thursday's sharply lower than expected Philly Fed Mfg Index (-31.3 vs -19.3 est).
  • Fed funds implied hike for May'23 remains largely static at 22bp, Jun'23 +27.3bp cumulative at 5.101%, while projected rate cuts later in the year inch higher: Nov'23 cumulative -11bp to 4.721%, Dec'23 cumulative -31bp at 4.721.Fed Terminal currently at 5.09% in Jul'23.

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.