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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.
SOUTH AFRICA
- SAGBs kick off on the back foot this morning with yields up +2.3-3.7bp in early trading after comments from the Fed’s Brainard & George rattles markets ahead of the FOMC minutes this evening.
- Front-end UST yields jumped higher as both showed an inkling towards larger 50bp steps in the coming meetings – sparking a move higher in global yields.
- The SAGB curve bear flattened following the remarks with 2-5Y yields rising +5.5-8bp, with 10-30Y tenors trimmed early gains to close -1-2.2bp lower.
- Focus will be on USTs this evening as markets eye signs of potential +50bp hikes as soon as may to tame runaway inflationary pressures.
- Key pivot resistance seen at 10.00 in the 10Y & 10.60 in the 30Y.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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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