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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.
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- Today’s 3.5bp fall in 10Y nominal yields masks an 8bp decline in real yields as the breakeven rises 4.5bp.
- Real yields are down to +7bps (off a low of 4bps), but it remains within yesterday’s wide range having surged to the first positive real yield since Mar-2020 barring a fleeting positive on Apr 20.
- Despite firming, the 10Y inflation breakeven of 2.87% is still comfortably below recent highs above 3% (similar with the 5y5y at 2.45% down from 2.55% just on Fri).
10Y nominal (white), breakeven (yellow) and real yield (green) with 5y5y forward breakeven (pink)Source: Bloomberg
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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