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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 EUROPEAN MARKETS ANALYSIS: US Yields Tick Up, JGBs Steady
MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday
Mkt Roundup: Weaker FI, Curves Re-Steepening
Tsys see-sawing in weaker range by midmorning, near lows on moderate volumes (TYM2>965k). Generally quiet end to the week: no react to Wholesale inventories (2.5%)/trade sales (1.7%) earlier. Two-way positioning/squaring up ahead the weekend, markets keeping wary eye on geopol headline risk re: Russia war in Ukraine, continued global sanctions.
- Yield curves inching steeper again after scaling back a portion of the week's bounce off early Mon's inverted lows. Currently, 2s10s nearly 30bp off Sunday evening inverted low of -9.531 at +20.108 (+.886) while 3s, 5s and 7s remain inverted vs. 10s (-0.642, -4.757, -6.991 respectively).
- Fresh cycle lows: June 10Y futures at 120-08.5 (-9) vs. 119-29 session low print - breaching key support of 120-04+ (Low Dec 12/13 2018) and 120.00 (Low Dec 6 2018), opens way to next key support of 119-22.
- Weaker June 30Y Bonds (USM2) off midmorning lows of 143-06 at 143-18 (-22), 30YY at 2.7165 (+.0375) vs. 2.7313% high.
- Current cross asset: West Texas Crude (WTI) -$0.13 (-0.14%) at $95.86; Gold +$11.35 (0.59%) at $1943.30. Stocks generally higher, SPX eminis off lows +13.25 (0.29%) at 4509.25.
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.