Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
A bearish start to the week, with yields on the curve 10 years out hitting highest levels since at least March 2020 as the reflation trade continues.
- With the short end anchored, the curve continues to steepen. The 2-Yr yield is up 0.4bps at 0.1052%, 5-Yr is up 1.8bps at 0.48%, 10-Yr is up 2.9bps at 1.1929%, and 30-Yr is up 2.3bps at 1.9938% (touching 2% for the first time since Feb 2020).
- Mar 10-Yr futures (TY) down 6/32 at 136-16 (L: 136-14.5 / H: 136-22) on strong (~350k) volume.
- Real yields have failed to keep pace so far though, with higher inflation breakevens the driver (oil pushing to a one-year high too).
- Attention on fiscal stimulus and vaccine rollout hopes, with COVID case numbers dropping in the US and globally. Stock futures have retraced slightly after all-time highs in Asia-Pac session; USD bouncing from early lows.
- A quiet calendar to start the week: Fed's Mester speaks at 1200ET, but no data of interest (some attention on CIP revisions).
- In supply, $105B of 13-/26-week bill auction at 1130ET. NY Fed buys ~$3.625B of 7Y-20Y Tsys.