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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.
US TSYS
- Cash Treasuries have seen a reasonable bear flattening today (2YY +5.6bps, 10YY +2.3bps) with nearly all of the cheapening coming from the ECB 75bp hike announcement and then press conference.
- They only edged out further moves with Powell doing little to push back on market pricing nearing a 75bp hike (currently 71.5bps, and with GS late yesterday and Barclays today joining calls for a 75bp hike). The main hurdle remains Tuesday’s US CPI prior to the Sep 21 FOMC decision.
- TYZ2 trades 6 ticks lower at 115-31+ having rallied pre-ECB, continuing to build on its vulnerability to the downside from a technical perspective having breached the bear trigger at 115-23. Support is seen at 115-13+ (Sep 7 low).
- Fedspeak highlights an otherwise light US docket tomorrow, with appearances from Governor Waller and ’22 voter George plus Evans again (today said see’s topping out at 4% “before too long” before pausing). The media blackout will kick in at Friday midnight.
2Y Tsy yield fluctuations ever since the mixed payrolls report, Sep 2Source: Bloomberg
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.
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