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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
Real yields have driven the fall in overall Tsy yields since the JOLTS release: 5Y Tsy yields fell as much as 12.5bp. Real yields made up 9bp of that move, with breakevens 3.5bp.
- Little wonder that assets that are very sensitive to real yields (eg gold) rallied sharply.
- The intraday drop in breakevens is extending, but while real yields are stabilizing a little here, current levels would be the lowest close since mid-September 2021 (1.06%) - another reflection of the market's renewed conviction in economic slowdown and Fed cuts ahead.
5Y TIPS YieldSource: BBG, MNI
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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