MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

IFO disappoints

MNI: GERMANY JUL IFO BUSINESS CLIMATE INDEX 87

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

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

Pre-FOMC Tsy Update

US TSYS
  • Treasury futures are still maintaining a narrow session range in the leadup to the FOMC policy announcement at the top of the hour. Back near pre-NY open highs: Jun'24 10Y trading 110-09 (+4.5) vs. 110-10 high at the moment, curves mildly flatter (2s10s -.304 at -39.782).
  • Little change from this morning, projected rate cut pricing steady to mildly higher in June/July: March 2024 chance of 25bp rate cut currently -0.8% w/ cumulative of -0.02bp at 5.328%; May 2024 at -10.3% w/ cumulative -2.8bp at 5.302%; June 2024 -59.6% vs. -56.0% late Tuesday w/ cumulative cut -17.7bp at 5.153%. July'24 cumulative -28.2bp at 5.048%.
  • The FOMC will hold rates at the presumed peak of 5.25-5.50% at its March 19-20 meeting, while reiterating its cut leaning forward guidance (“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent”).
  • Immediate focus will be on the quarterly summary of economic projections (SEP).
  • Current cross-asset roundup: stocks mildly weaker (S&P Eminis -4.25 at 5237.5), oil weaker (WTI -1.84 at 81.63), Gold near steady at 2156.98 (-.61).
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.