MNI BRIEF: Chinese Exports Jeopardise EU Industry--Le Maire

MNI BRIEF: EU's Gentiloni Calls For G7 Coordination On China

MNI: Canada Retails Jump In April After Weak First Quarter

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1102 Fri; -2.68% Y/Y

MNI: BAKER HUGHES US RIG COUNT 600; OIL RIGS 497; GAS RIGS 99

EZ/UK Bond Supply Calendar: EU, Belgium Auction on Monday

EZ/UK T-Bill Calendar: Germany and France To Sell Bills 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

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

Retail Sales Miss Has Limited Mkt Impact

DATA REACT

A very poor Nov retail sales report (see 0838ET write-up from our Data team) will lead to downgrades of Q4 GDP estimates (the control group number falling to -0.5% M/M vs expectations for a gain) and cast additional doubt on the near-term growth outlook.

  • That said, Treasuries' conviction has been largely unswayed by the numbers, with Tsys barely bouncing considering the magnitude of the data miss, and bear steepening continuing. Fiscal deal and FOMC seen more important at this stage.
  • The 2-Yr yield is up 1.2bps at 0.125%, 5-Yr is up 2.2bps at 0.3862%, 10-Yr is up 3.2bps at 0.9395%, and 30-Yr is up 4.2bps at 1.6918%.. Mar 10-Yr futures (TY) down 5/32 at 137-22.5 (L: 137-21 / H: 138-00.5)
  • Not much move in the USD either, more attention on simultaneously released 0830ET headlines on Treasury declaring Switzerland and Vietnam FX manipulators.
BulletMarketsFixed Income BulletsForeign Exchange 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.