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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.
US TSYS
- Today’s 7.5bp rally in 10Y Tsy yields, unwinding most of yesterday’s sell-off through the US session, has come from a combination of both lower real yields and inflation breakeven.
- The 4.5bps decline in the 10Y breakeven to 2.74% (yellow line) takes the edge off the recent rise but does little to change the trend: inflation expectations have been rising over the past two weeks, further above the 2.4-2.5% prior to the Ukraine war but still below the highs of 2.90% averaged through mid-Mar-early May.
- Broadly similar story in the 5Y5Y forward breakeven at 2.41% (pink line) although it remains closer to the 2.45% averaged over that same mid-Mar to early May period.
US 10Y Tsy yield (white), real yield (green), breakeven (yellow) and 5Y5Y breakeven (pink)Source: Bloomberg
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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