CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Retail Sales In Focus As Inflation Fears Ebb

US TSYS SUMMARY

Treasuries strengthened overnight with breakeven inflation subsiding, as post-CPI data fears appear to be ebbing somewhat.

  • Jun 10-Yr futures (TY) up 8/32 at 132-14 (L: 132-06 / H: 132-15.5) and have nearly fully reversed the post-CPI drop. Volumes slightly elevated (front 345k). The 2-Yr yield is down 0.2bps at 0.151%, 5-Yr is down 2.1bps at 0.8064%, 10-Yr is down 2.2bps at 1.6352%, and 30-Yr is down 3.7bps at 2.3582%.
  • Apr retail sales (0830ET) provide the next data signpost in the pandemic reopening: headline seen +1.0% M/M (+9.8% prior), with ex-auto/gas +0.3% (+8.2% prior) and control group -0.4% (+6.9% prior).
  • In variations on the same theme: some attention on industrial production (0915ET) esp for signs of supply chain disruptions, and prelim May UMichigan sentiment at 1000ET bears watching in part for inflation expectations.
  • The only scheduled Fed speaker is Dallas Pres Kaplan (1300ET).
  • Treas Sec Yellen speaks at a Vatican conference ("Dreaming Of A Better Restart") at 1450 local time, so 0850ET/1350UK.
  • No supply; NY Fed buys ~$12.4B of 0- 2.25Y Tsys. Note yesterday, as we'd flagged, the NY Fed shifted bond purchases to the 7-30Y Tsy range by 3% and away from TIPS "modestly".
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.