FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Personal Spending, Pending Home Sales Higher Than Expected

US TSYS

Tsys looking weaker after the bell, but off late session lows, Mar'24 10Y futures currently -7 at 111-03 vs. 111-00 low, yield at 4.0523% (+.0540). Curves bear flattened on the day: 2s10s -3.150 at -21.048 vs. -17.415 high.

  • Busy session to end the week with Tsys extending lows after PCE and Personal Spending data:
    • PCE Deflator MoM (0.2% vs. 0.2% est, -0.1% prior), YoY (2.6% vs. 2.6% est)
    • PCE Core Deflator MoM (0.2% vs. 0.2% est), YoY (2.9% vs. 3.0% est).
    • Personal Spending higher than expected w/ up-revisions to prior: 0.7% vs. 0.5% est, prior upped to 0.4% from 0.2%; Real Personal Spending: 0.5% vs. 0.3% est.
  • Tsys extended lows yet again after higher than expected Pending Home Sales MoM a whopping 8.3% increase vs. 2.0% est (prior down-revised to -0.3% from 0.0%), YoY: -1.0% vs -4.3% est, while prior down revised to -5.5% from -5.1%.
  • Looking ahead: focus is on the FOMC policy annc on Wednesday, followed by employment data for January on Friday. Treasury’s Quarterly Refunding process for the Feb-Apr quarter also begins with borrowing estimates released on Mon Jan 29 (0830ET), followed by the refunding announcement itself on Wed Jan 31 (also 0830ET).
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.