Free Trial
EURUSD TECHS

Shallow Correction

OPTIONS

Some Euribor Downside Ahead Of Next Week's ECB

OPTIONS

Larger FX Option Pipeline

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Terminal Rates vs. Pace of Rate Hike Step-Down

US TSYS

Tsys moderately weaker after the bell, upper half of session range as focus remains on Fed speak and inflation metrics after last Thu's softer than anticipated CPI.

  • Fed Gov Waller eco-outlook from Australia last night: ""We're at a point we can start thinking maybe of going to a slower pace," Waller said, but "we're not softening...Quit paying attention to the pace and start paying attention to where the endpoint is going to be. Until we get inflation down, that endpoint is still a ways out there" DJ reported.
  • Rates bounced after Fed VC Brainard eco-outlook comments: "PROBABLY APPROPRIATE TO SOON MOVE TO SLOWER HIKE PACE".
  • Flipside: jump in median inflation expectations (1-Year: 5.94% in Oct vs 5.44% Sep) in the NY Fed's consumer survey looks largely a result of a rebound in food and energy price expectations.
  • Short end selling evaporated after the Brainard comments, Fed funds implied hike in Dec'22 steady at 50.9bp, Feb'23 cumulative 86.9bp to 4.717% vs. 86.9bp earlier, terminal slips to 4.93% in Jun'23 (5.08% pre-CPI).
  • Current 2-Yr yield is up 7.6bps at 4.4077%, 5-Yr is up 6.8bps at 4.0055%, 10-Yr is up 6.4bps at 3.8761%, and 30-Yr is up 4.7bps at 4.0625%.
192 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Tsys moderately weaker after the bell, upper half of session range as focus remains on Fed speak and inflation metrics after last Thu's softer than anticipated CPI.

  • Fed Gov Waller eco-outlook from Australia last night: ""We're at a point we can start thinking maybe of going to a slower pace," Waller said, but "we're not softening...Quit paying attention to the pace and start paying attention to where the endpoint is going to be. Until we get inflation down, that endpoint is still a ways out there" DJ reported.
  • Rates bounced after Fed VC Brainard eco-outlook comments: "PROBABLY APPROPRIATE TO SOON MOVE TO SLOWER HIKE PACE".
  • Flipside: jump in median inflation expectations (1-Year: 5.94% in Oct vs 5.44% Sep) in the NY Fed's consumer survey looks largely a result of a rebound in food and energy price expectations.
  • Short end selling evaporated after the Brainard comments, Fed funds implied hike in Dec'22 steady at 50.9bp, Feb'23 cumulative 86.9bp to 4.717% vs. 86.9bp earlier, terminal slips to 4.93% in Jun'23 (5.08% pre-CPI).
  • Current 2-Yr yield is up 7.6bps at 4.4077%, 5-Yr is up 6.8bps at 4.0055%, 10-Yr is up 6.4bps at 3.8761%, and 30-Yr is up 4.7bps at 4.0625%.