MNI BRIEF: BOI Sees "Modest" Q2 EZ Growth Driven By Services

MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 584; OIL RIGS 478; GAS RIGS 100

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.10B BSL

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Treasury Futures Unchanged Early, Fed's Kashari Sees 2 Rate Cuts

US TSYS
  • Jun'24 10Y futures have opened steady in the first hour of trading on Thursday, very little has trade and ranges have been tight hitting a low of 111-15 and a high of 111-17+, we trade largely unchanged at 111-16
  • Looking at technical levels, Initial technical resistance is 111-23 (High Mar 6), a break above would open 111-27 (50% retracement of the Feb 1 - 23 bear leg). To the downside, levels to watch include 110-05+/109-25+ (Low Mar 1 / Low Feb 23 and bear trigger), below there 109-14+ (Low Nov 28)
  • Treasury curves bull-flattened on Wednesday with yields 0-7bps lower, as cash trading gets underway yields are mostly unchanged, the 2Y yield unchanged 4.55%, 10Y yield up +0.2bp to 4.102%
  • Post US Close, Fed's Kashkari spoke at a WSJ Event, his statements suggest a cautious approach to monetary policy, with the base case indicating no further rate hikes, while keeping with his December projections case of 2 cuts. However, he acknowledges that if inflation becomes more entrenched, the Fed may prolong its current stance, and if inflation flares again, a rate hike could be justified. (Link)
  • Thursday's data calendar includes Weekly Claims, Unit Labor Cost, and day two of Chairman Powell's testimony.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.