MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Treasuries Flatten With Growth Fears

US TSYS
  • Cash Tsys have fluctuated through Asian and European sessions, with the long end rallying intraday on growth fears, but ultimately sit with a solid bear flattening from Friday’s close after the US holiday.
  • It leaves the curve extremely flat through 2-10Y tenors as growth concerns continue to weigh, but with only factory orders today, the next significant steer could wait until tomorrow’s ISM services after Friday’s miss in the manufacturing report sparked a further substantial rally before ultimately reversing.
  • 2YY +7.1bps at 2.904%, 5YY +2.5bps at 2.902%, 10YY +2.4bps at 2.904% and 30YY +2.3bps at 3.126%
  • TYU2 has unwound the bulk of yesterday’s gradual dip in very thin markets to leave it just half a tick lower from Friday’s close at 119-07+. It still trades close to recent highs with the bull cycle still in play: resistance is eyed at 120-04 (Jul 1 high) and support at 118-06 (Jul 1 low).
  • Data: Limited to factory orders/final durable goods at 1000ET before a heavy schedule tomorrow including ISM services, JOLTS and the FOMC minutes.
  • Bill issuance: US Tsy $45B 13W and $42B 26W bill auctions (1130ET)
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.