MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Mildly Cheaper Ahead Of ADP and 2nd GDP Release

US TSYS
  • Tsys remain a little softer on the day, although moves in European peers have been more pronounced, with CPI readings from the continent front and centre thus far after German regions suggest stronger than expected national CPI.
  • Cash Tsys run 1.5-2.5bp cheaper across the curve, while TYZ3 is -0-05 at 110-21 off a low of 110-18+ at the low end of a contained 0-09+ range. The corrective cycle is seen in play with resistance at 110-29+ (Aug 29 high) and support at 109-18+ (Aug 25 low).
  • Flow has seen a FV/US block steepener (+8,020/-2,500) for the second time in as many London sessions, with similar size deployed at around the same time of day on both occasions.
  • FOMC-dated OIS is incrementally firmer on the day but holds the bulk of yesterday's data inspired dovish repricing. Terminal policy rate pricing shows at 5.46% (come November), before 45bp of cuts are priced through June '24.
  • Data: MBA mortgage data (0700ET), ADP employment Aug (0815ET), GDP and core PCE deflator 2nd Q2 (0830ET), Advance trade balance Jul (0830ET), Pending home sales (1000ET)
  • Bill issuance: US Tsy to sell $50B 17-week bills (1130ET).
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.