BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

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 Chip Away At Yesterday’s Sell-Off Ahead Of Fedspeak, Beige Book

US TSYS
  • Cash Tsys have rallied 2-4bps after yesterday’s sizeable cheapening, with moves led by the front-end as Fed hike expectations are chipped at, which sees approximately half of yesterday’s move unwound for the 2Y but much less than that further out after the 30YY touched eight-year highs. The long end lags larger rallies in European core FI, with heavy corporate issuance likely to continue to help pressure Treasuries this week.
  • 2YY -3.7bps at 3.466%, 5YY -2.6bps at 3.426%, 10YY -2.3bps at 3.326% and 30YY -2.1bps at 3.480%.
  • TYZ2 trades just 2+ ticks higher at 115-21+ having yesterday cleared the bear trigger of 115-23. Initial support is formed at the intraday low of 115-13+ after which it would open 114-26 ()Jun 16 low).
  • Data/releases: The Fed Beige Book leads with data limited to weekly MBA mortgage data and the final trade balance for July.
  • Fedspeak: VC Brainard and Mester likely dominate although also see Barr (VC Supervision) on the financial system – all permanent/’22 voters, and a repeat appearance from Barkin (’24 voter).
  • Bill issuance: $30B 119-Day CMB auction
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.