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
Treasuries are off session lows but the direction of travel remains lower, with stimulus optimism pushing yields higher and the USD lower (DXY touching lowest levels in 6 weeks).
- Yields across the curve hitting fresh post-June highs, with bear steepening in play again. The 2-Yr yield is up 0.6bps at 0.1492%, 5-Yr is up 1.9bps at 0.3538%, 10-Yr is up 2.5bps at 0.8108%, and 30-Yr is up 2.9bps at 1.6202%. Dec 10-Yr futures (TY) down 4.5/32 at 138-18 (L: 138-13 / H: 138-24.5)
- Focus remains firmly on Washington today, as we move past House Speaker Pelosi's previously stated Tuesday deadline for a COVID stimulus deal - she and Tsy Sec Mnuchin due to speak today to reconcile outstanding differences in the deal. Pelosi's new 'deadline' is this weekend to get a bill passed by the end of next week (ie ahead of the election); Senate passage remains very much in question though.
- As with earlier in the week, the calendar is mainly about Fed speakers and not (thin) data. Cleveland's Mester speaks at 1000ET, Minn's Kashkari / Dallas' Kaplan at 1200ET, Richmond's Barkin / VC Quarles at 1300ET, and StL's Bullard at 1645ET. The latest Beige Book is released at 1400ET.
- We get 20-Yr re-open auction for $22B at 1300ET (preceded at 1130ET by 105-/154-day bill sales totalling $55B). NY Fed buys ~$1.225B of 7.5-30-Yr TIPS.