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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 AccessMkt Roundup: Short Cover Support Ahead Key CPI Measure
Tsys off late overnight lows -- extending highs ahead key inflation CPI measure for March (+1.2% est) at 0830ET. Consensus has headline CPI surging +1.2% M/M in Feb on sharp rises in energy (~12% M/M) and less so food (1% M/M).
- Yield curves scaling back small portion of steepening over last week (2s10s -2.299 at 25.138 vs. -9.561 inversion a week ago).
- Robust volumes ahead the NY open, TYM2>500k, amid central bank buying in 2s recently, noted block buy in 5s (+3,947 FVM2 113-03, buy through 113-02.25 post-time offer at 0726:37ET).
- Fresh cycle lows in June 10Y futures at 119-10.5 (-13.5) earlier vs. 119-28 (+4) last. Bear-trend extends: break lower confirms a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies still point south w/ next key support at 119-04+ (Dec 3 2018 low (cont)).
- Firmer June 30Y Bonds (USM2) 142-17 (+15) recent high vs. late O/N low of 141-06, 30YY currently at 2.7834 (+.0258) vs. 2.8555% high.
- Current cross asset: Oil bouncing, West Texas Crude (WTI) +$4.17 (4.42%) at $98.50; Gold adding to Mon's rally +$6.25 (0.32%) at $1959.73. Stocks firmer, SPX eminis +10.25 (0.23%) at 4419.25.
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.