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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
- Climbing real yields have prevented any spillover to inflation expectations from higher-than-expected UK and Canada CPI today, building on Kashkari last night saying rates could go above 4.5-4.75% if no progress with CPI and former Boston Fed's Rosengren telling MNI he sees prospects of a 2023 rates above 5%.
- The entirety of the 9-10bp increase in nominal 10Y yields to new cycle highs has come from real yields, which at 1.68% are up a notable 20bps since yesterday morning and at the high end of the range from the past month.
- That range includes the post-CPI spike to a cycle high of 1.74% although it has struggled to hold above 1.7% for any period of time.
- Real yields continue to play an important role in both bolstering USD strength whilst weighing on risk sentiment.
10y real yields (green) and DXY (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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