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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 UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Tsys trading broadly lower (10YY....>
US TSYS SUMMARY: Tsys trading broadly lower (10YY tapped 2.9321%, 2.921% last),
curves regaining some lost ground after tapping new 10+-year flats Wed. Tsy
futures off session lows into midday, decent volume w/TYM>1.1M. Nevertheless,
midday trade rather quiet as Tsys inch off lows. US$ index higher/off recent
highs (DXY +.198, 89.821; US$/Yen>107.39); equities weaker/near session lows
(emini -21.7, 2688.0); gold weaker (XAU -4.95, 1344.48); West Texas crude off
best levels after making new 3+Y highs earlier (WTI +0.42, 68.89 vs. 69.5H).
- Tsys opened weaker, following Bund/Gilt sell-off during London hour. Gilts
weighed by supply and news UK gov lost key vote in House of Lords requiring it
to seek customs union with EU after Brexit.
- Tsys ratcheted lower, part technical based, pressure from FX and supply. Some
cite "inflation scare" post Wed's Beige Book, focus on steel prices. Inflation
scare w/core <2% still? Seems like today's steepening is a dead-cat bounce day
after 3 Fed speakers specifically mention flatter curve and implications.
- Flow includes CTS stop-outs in intermediate to long end curve unwinds, real$
and bank selling 10s, 30s, rate paying shorts to intermediates.
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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.