FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Minor Bear Steepening After Substantial Flattening

US TSYS
  • Cash Tsys have seen a small bear steepening after substantial flattening since the FOMC, nudging the 2s10s up to 62.5bps but still 12bps flatter from before the Fed.
  • 2Y yields are +2.4bps at 1.212%, 5Y +2.7bps at 1.685%, 10Y +4.1bps at 1.841% and 30Y +3.7bps at 2.130%.
  • TYH2 is down 7+ ticks at 127-13+ on modestly below average volumes. It is near support at 127-06+ (Jan 26 low) which is then closely followed by the bear trigger of 127-02 (Jan 19 low).
  • Two key data releases at 0830ET, with the core PCE deflator for Dec (consensus for another +0.5% M/M) and the Q4 ECI of particular note after Powell specifically attributed the jump to 1.3% Q/Q in Q3 as a key reason to accelerating taper (cons for marginal moderation to 1.2% Q/Q). Finalised U.Mich consumer sentiment and inflation expectations follow at 1000ET.
  • No Fed buy-operation, no Tsy Supply and no Fed speakers schedule as yet (out of blackout).
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.