MNI BRIEF: German Insolvencies Slowed In June, Outlook Uncertain - IWH

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

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI BOK WATCH: Slowing Inflation Puts Q4 Cut In Sight

MNI: PBOC Sets Yuan Parity Higher At 7.1310 Tues; -0.50% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1310 TUES VS 7.1286

Asia Sov Curves Bull-Steepen, Indon To Reduce Bond Issuance

MNI: UK BRC JUN BY VALUE SHOP SALES LFL -0.5% YY, TOTAL -0.2% YY

BRC-KPMG Retail Sales Fell For The First Time (ex Easter Anomaly) Since Jun-22

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

(Correction) Shortened-Session Wrap Up

US EURODLR FUTURES
(Correcting TYU2 level, which should say 119-21 and not 120-00 originally shown)
  • Today’s shortened-session has been driven by both global and domestic factors, with implied yields boosted early on by an easing of China Covid restrictions (the latest being Shanghai lifting access restrictions for residential compounds and restarting basic operations for public transport) along with a sizeable beat in German CPI inflation (EU-harm. CPI +1.1% M/M vs +0.5 exp).
  • The Fed’s Governor Waller (voter) then gave a further helping hand, noting support for 50bp hikes at ‘several’ meetings in an escalation from widespread FOMC support for such moves at the next ‘couple’ meetings. This is part of his desire to hike above neutral by the end of the year, being prepared to do more ‘if the data suggest that inflation is stubbornly high’.
  • Eurodollars close as much as 10 ticks lower across the curve, led by late whites/front reds as hike expectations firm. EDZ2 is close to where it has after the May FOMC but with the main difference being a trimming in hike expectations thereafter, now levelling off close to 3.25% in EDH3-EDM3 compared to previous peaks above 3.5%.
  • TYU2 closes 15+ ticks lower at 119-21 as it fades off recent highs. The primary trend remains down, with support next eyed at 119-03 (May 23 low).
BulletMarketsFixed Income BulletsFOMC Calendar Market NewsHomepage
BulletMarketsFixed Income BulletsFOMC Calendar Market NewsHomepage

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.