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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessRelative quiet end to hectic FOMC......>
US TSY FLOWS: Relative quiet end to hectic FOMC week, rates largely unwinding
rate rally since annc while short end continues to price in small chance of 50bp
cut at next policy meeting at end of July.
- Moderate volume (TYU appr 1.45M) 10YY back up to 2.063% after slipping to
1.9719% (Nov'16 levels) Thu. Fed speakers back: Kashkari wanted 50bp cut and
aggressive Policy, Fed Brainard: downside risks call for lower rates.
- Not exactly risk-off, safe havens still trade strong, Gold made new 5 year
high of 1412.08, crude still well bid amid ongoing US/Iran tensions (despite
Trump calling off strike in retaliation for Iran downing unmanned drone late
Thu).
- Mixed flow w/better sellers across the curve, particularly long end, swap spds
directionally tighter, spd curve flattener unwinds 2s and 5s vs. 10s and 30s.
- Eurodollar option volume remains heavy but off Thu's very heavy pace.
- The 2-Yr yield is down 0.2bps at 1.776%, 5-Yr is up 2.1bps at 1.8021%, 10-Yr
is up 3.4bps at 2.0626%, and 30-Yr is up 5bps at 2.5899%.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.