MNI BRIEF: ECB Cut On Disinflationary Process Trust-Centeno

CANADA MAY JOBS +26.7K VS FORECAST +20K, PRIOR +90.4K

MNI China Daily Summary: Friday, June 7

MNI BRIEF: Mexico Inflation 4.69% In May, Below Consensus

MNI BRIEF: China May Forex Reserves Rise On Weakened Dollar

MNI BRIEF: China Service Trade Grows Rapidly, Deficit Expands

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

Weak Household Survey Continues To Tell Much More Pessimistic Story

EZ/UK Bond Supply Calendar: BoE APF Mon; EU, UK Synd W/C 10-Jun

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

Scaling Back Friday's Support

US TSYS
Tsy futures trading weaker (30YY 3.5872 +.0421) at the start of a shortened Christmas holiday week (early Friday close for Globex at 1300ET, Monday full close w/ Globex reopening 1700ET).
  • Futures reversing much of Fri's late support despite hawkish comments from SF Fed Daly and Cleveland Fed Mester. Daly:
    • "We see a slowdown coming in a way that would be predicted by raising interest rates, and we still have a long way to go," she told the American Enterprise Institute. Daly said she boosted her inflation projection in the Fed's dot plots largely because of the tight labor market, and also said that while goods inflation is slowing, core services prices will be more stubborn.
  • Bonds near late overnight lows on light volume across the board (TUH3 leads w/ under 145k), Yield curves steeper w/ 2s10s +3.683 at -66.551 (-65.032 high).
  • No scheduled Fed speakers today, limited data with NAHB Housing Market Index (34 est) at 1000ET; US Tsy auctions: $54B 13W and $45B 26W bills at 1130ET.
  • Fed funds implied hike for Feb'23 steady at 32.9bp, Mar'23 cumulative 46.5bp to 4.798%, May'23 51.5bp to 4.847%, terminal slips to 4.84% in Jun'23.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.