MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Relief Rally, Nothing In Minutes That Hasn't Already Been Said

US TSYS
Risk-on gained traction after some initial two-way trade -- Tsys holding narrow range with 2s and 10s outperforming while stocks posted new session highs -- relieved after the minutes showed no discussion of larger rate hikes.
  • "A restrictive policy stance may well become appropriate depending on the evolving economic outlook and the risks to the outlook," the minutes said, highlighting that officials saw upside risk to inflation.
  • Several participants also noted the potential for "unanticipated effects on financial market conditions" related to the asset-runoff process.
  • After some initial two-way trade, SPX eminis extended session highs after the FI close, ESM2 climbed to 3997.25 high.
  • Earlier, Tsy futures holding modest gains in 2s-10s, after $48B 5Y note auction (91282CET4) tails slightly: 2.736% high yield vs. 2.732% WI; 2.44x bid-to-cover vs. 2.41x last month.
  • Heavy volumes again as Jun/Sep roll neared 75% completion, both FVM and TYM traded over 3M contracts after the bell more than half of which tied to rolling to Sep that takes lead position on May 31.
  • Thursday focus: Wkly Claims (215k vs. 218k prior), GDP (8.0%), PCE (2.8%), and $42B 7Y Tsy note sale. Fed speak add: SF Fed Daly interview on CNBC's "The Exchange" at 1300ET.
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.