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Global Macro
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About Us
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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.
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 AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Mildly Bull Steeper On Low Volumes Ahead Of CPI
- Cash Tsys trade mildly bull steeper in thin volumes ahead of today’s CPI release (MNI Preview here). It clearly headlines the docket amidst heightened data dependence, although Fedspeak could also be of note afterwards if rate cuts timing is again brought up following Williams and Harker earlier in the week and also as former Fed economist Nathan Sheets discussed with MNI yesterday (here). Daly is however the only scheduled speaker for today who hasn’t spoken since the July FOMC decision.
- 2YY -2.1bp at 4.787%, 5YY -1.6bp at 4.121%, 10YY -0.6bp at 3.999%, 30YY +0.0bp at 4.170%.
- TYU3 trades unchanged on the day at 111-12 off an earlier low of 111-06+, with low volumes at just 185k. Resistance at 111-17+ (20-day EMA) was briefly pierced yesterday with a high of 111-20 but the trend direction remains bearish with support seen at 110-23 (Aug 7 low).
- Data: CPI Jul (0830ET), Real avg earnings Jul (0830ET), Weekly jobless claims (0830ET), Monthly Budget Statement Jul (1400ET).
- Fedspeak: Daly (’24 voter) 1100ET, Bostic (’24) 1500ET, Harker (’23) 1615ET
- Note/bond issuance: US Tsy $23B 30Y Bond auction (912810TT5) – 1300ET
- Bill issuance: US Tsy $75B 4W, $65B 8W bill auctions – 1130ET
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.