MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

Tsys Back at Dec FOMC Lvls, Minimal Changes to Latest Core CPI Trends

US TSYS
  • Treasury futures are looking modestly weaker after the bell, near session lows after futures quickly reversed post-CPI revision support this morning. Curves are flatter with Bonds outperforming, Mar'24 10Y futures -4 at 110-20 vs. 110-16 low - a level not seen since prior to the December 13 FOMC.
  • After a brief delay delay, Treasury futures gapped higher (TYH4 tapped 111-01 briefly) after BLS released recalculated seasonally adjusted indexes and adjustment factors for Jan'19-Dec'23. Levels just as quickly reversed as markets digested the 5 years of revisions: very minimal changes to latest trends in core CPI % M/M SA readings.
  • Dec’23 0.28% vs 0.31% prior, offset by small upward revisions in Oct and Nov. Largest uplifts back in July and April, largest downward revisions in May and March – all old history now. The Core CPI 3-month annualized rate near enough unrevised: 3.34% vs 3.33% prior. 6-month rate at 3.25% annualized vs 3.21% prior.
  • Atlanta Fed's Bostic (’24 voter) local radio interview: still seeing a ways to go on inflation. The remarks are broadly in line with his last main appearance from Jan 19 when he said he wants to make sure we’re well on the way to 2% inflation before cutting.
  • Look ahead: Monday data calendar includes NY Fed Inflation Expectations, and more Fed commentary from Fed Gov Bowman, Richmond Fed Barkin MN Fed Kashkar and MN Fed Kashkari.
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.