MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

MNI: US JOBLESS CLAIMS +0K TO 212K IN APR 13 WK

MNI UK Inflation and Labour Market Insight: April 2024 Release

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

Risk-Off Ahead Extended Holiday Weekend

US TSYS SUMMARY

Rates firmer after the bell Friday, near the mid-session range, a mild risk-off tone with equities weaker but off lows (ESH1 -20.0).

  • Underscoring tone: heavy first half data included ugly Dec Retail Sales (-0.7% vs. 0.0% est) combined w/ other poor data this wk including jobless claims, suggests that economic activity at the end of the year was weaker than expected.
  • Moderate volumes (TYH1>1.22M) two-way with better buying from prop and real$ in belly to long end earlier. Second half much more subdued as US accts looked forward to extended three-day holiday weekend ahead next week Wednesday inauguration for President-elect Biden.
  • Ongoing headline risks: threat of violent protest in state capitols across the US not just DC, Covid items: vaccine inventory concerns weighed on equities (as did bank shares after earnings started to roll).
  • The 2-Yr yield is down 0.4bps at 0.135%, 5-Yr is down 3bps at 0.4533%, 10-Yr is down 3.4bps at 1.0954%, and 30-Yr is down 2.3bps at 1.8493%.
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.