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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.
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Free AccessTreasury making new session highs...>
US TSYS SUMMARY: Treasury making new session highs into midday as US$/Yen
extends session lows (110.64, -.13 vs. 111.07 pre-hopen high). Decent futures
volume by midday, inflated by June/Sep roll activity.
- The USD index is higher (DXY +0.118, 93.587); equities weaker (emini -3.5,
2715.25); West Texas crude weaker (WTI -0.26, 71.23); gold bounced after a weak
morning (XAU +1.65, 1292.39). Limited data today (GDP Now forecasts), multiple
Fed speakers round out the wk; many sidelined ahead May FOMC minutes next Wed.
- Swaps spds tighter, spd curve unwinding portion wk's flattening, bank
portfolio paying 3s earlier; modest payers in 1s, 4s and 5s fading the two day
move, while some modest spd curve steepeners (2s5s and 4s7s). No new corp
issuance after >$35B priced on week.
- Curves mixed w/short end flatter. Tsys also gained as German bunds shot higher
earlier. Italy's 10yr yield climbed over 30 basis points through wk largely
driven by 5-star/Lega's coalition proposals.
- Tsy cash/ylds: 2Y 99-22 (2.540%), 5Y 99-11 (2.888%), 10Y 98-11.5 (3.065%), 30Y
98-12.5 (3.208%)
To read the full story
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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.