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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 AccessMNI Commodity Weekly: Oil Markets Assess Trump Impact
MNI Gas Weekly: Winter Weather Takes the Driver's Seat
Tsys Back Near Midday Lows, Mixed Data, Shutdown Averted
- Tsy futures remain weaker, near midday lows after attempting to rebound in the second half. Dec'23 10Y futures are at 107-11 (-23) vs. 107-07 low, 10YY at 4.6785% (+.1074) vs. 4.7014% high. Curves remain steeper: 3M10Y +9.262 at -79.260, 2Y10Y +4.686 at -42.976.
- No delay in economic data this week after Congress passed a stopgap funding bill Saturday evening that will keep Federal agencies open through November 17, 2023.
- Tsys extended lows after S&P Global US Manufacturing PMI comes out higher than expected (49.8 vs. 48.9 est). Fast two way trade was noted after ISM data.
- Treasury futures extend early session lows (TYZ3 107-12.5) then rebound mixed ISM manufacturing came out higher than expected (49.0 vs. 47.8 est). ISM Prices Paid lower than expected (43.8 vs. 48.8 est), Employment higher: (51.2 vs. 48.5 prior) and New Orders (49.2 vs. 46.8 prior). in contrast, Construction Spending was in line with expectations at 0.5%.
- Cross asset summary: Greenback remains strong (DXY +.731 at 106.905), Gold remains weak (-18.77 at 1829.86), crude weaker too (WTI -2.16 at 88.64). Stocks mixed, Nasdaq outperforming: up 21.43 points (0.3%) at 13240.75, DJIA down 201.42 points (-0.6%) at 33310.09, S&P E-Mini Future down 24.75 points (-0.57%) at 4302.
- Limited data release Tuesday, focus on ADP early Wednesday ahead Fri's September Jobs data.
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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.