MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

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

Post-March FOMC Minutes Calm

US TSYS
  • Treasury futures holding modestly higher for the most part, near the middle of a wide session range. Futures fell back to pre-CPI levels after the Tsy $32B 10Y note auction tailed 2.3bp, but gradually climbed to middle of range (TYM3 115-25.5 +13.5) in the aftermath of the March FOMC minutes release.
  • Federal Reserve officials debated a temporary pause to interest rate hikes last month as a banking sector crisis raged but unanimously decided inflation pressures were still sufficiently worrisome to warrant a quarter point interest rate increase.
  • Post-minutes calm, projected year end rate cuts back to approximately -50bp cumulative for December after paring the move around midday. Initial impetus from the lower than anticipated CPI (CPI 0.1%, CORE 0.4%; CPI Y/Y 5.0%, CORE Y/Y 5.6%) has since scaled back the move while less than a 25bp hike at the May meeting holding steady.
  • Markets showed little reaction to several unscheduled Fed speakers this morning Richmond Fed initially stayed away from discussing policy at a annual conference on investing, reiterated "THERE IS STILL MORE TO DO TO GET CORE INFLATION DOWN ... while PAST PEAK INFLATION BUT WE STILL HAVE WAYS TO GO" at a midmorning CNBC interview.
  • Meanwhile, SF Fed President Daly said the U.S. economy could slow enough to bring down inflation without the Federal Reserve lifting interest rates further.
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.