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Global Macro
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Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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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
OUTLOOK: Few Local Drivers But Plenty Elsewhere
- Little scheduled locally today aside from a 10Y GoC auction (1200ET) with impact more likely from a heavy US docket plus BoE/ECB.
- Recapping official commentary from yesterday:
- BoC’s Macklem: “QT could come in fairly short order after rate hike”. This tweaks guidance from last week’s decision that when it begins to raise the policy rate, it will consider stopping reinvestments and start runoff.
- He added that the primary instrument for tightening will be rate hikes and that the path will hinge on productivity gains, whilst balance sheet rolloff works further out on the yield curve.
- Separately, Routledge, head of the federal banking regulator, noted that house prices could fall 10-20% in some regions as rates increase. National prices were up 15.5% Y/Y in Dec, whilst Vancouver prices were up 18.5% Y/Y in Jan in data released yesterday.
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.