MNI BRIEF: Dissent To June ECB Cut Highlights Inflation Risks - Accounts

MNI INTERVIEW2: New UK Govt's Growth Boost Little Help For OBR Projections

MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Post-Waller Rally Continues, Long-End Holds Clearance Of Bull Trigger

US TSYS
  • Cash Tsys have continued to push out gains with the front end leading (2s and 3s both 9.5bp richer on the day), spurred by a dovish Waller first saying he was increasingly confident in the policy stance and then adding that there could be scope for lowering rates if inflation stays lower over the coming months (three, four or five).
  • The longer end is getting dragged with it, with 10s currently 5bp richer and in futures space has seen a clearance of notable resistance.
  • TYZ3 at 109-15+ has recently touched a new high of 109-17 to further push above the bull trigger at 109-08+ (Nov 17/22 high) and open 109-20 (Sep 19 high).
  • Still to come, $39B of 7Y supply at the top of the hour (see our preview at 1020ET, also here), after yesterday’s relatively smooth absorption of 2Y and 5Y paper allowed for a further rally, followed by further Fedspeak although Barr and Paese are less likely to touch on monetary policy relevant areas.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.