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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
- The sharp reversal in Tsys has come after the 2Y yield cleared new highs above 2.45% on the initial move in response to more positive headlines between Russia-Ukraine talks.
- The belly had led yields higher on the way up and does the same on the way down, along with the 10Y with both now down -5bps on the day.
- Potentially in response to lower inflationary pressure from a pulling back in the conflict, evidenced by lower oil, nominal yields are dragged lower by a slide in inflation expectations.
- The 5Y breakeven has dropped 13bps to 3.52%, the lowest since Mar 17 (and more than 20bps down from yesterday's highs), whilst the 10Y breakeven is 9bp lower at 2.87% and equally relatively low.
5Y nominal yield (white), breakeven (yellow) and real yield (green)Source: 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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