Free Trial

Partial Paring Of Post-Data Gains, FF See 3 Cuts With June FOMC

US TSYS
  • Cash Tsys have seen paring of post-data gains, now sitting twist steeper on the day with 3s 1bp richer and 30s 1bp cheaper.
  • Surprisingly dovish GDP and core PCE revisions for Q3 offset a hawkish surprise from lower-than-expected jobless claims, including initial claims for a payrolls reference week with it coming in below the Nov equivalent.
  • TYH4 punched to a high of 113-04 to clear yesterday’s 112-31+ and move closer to resistance at 113-12+ (Fibo projection of Oct-Nov price swing), but has since retreated to 112-31.
  • Fed Funds implied rates meanwhile have a cumulative 24bp of cuts for March, 51bp for May, 79bp for June and 159bp for end-2024.

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.