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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 mixed after the........>
US TSYS SUMMARY: Tsys trading mixed after the bell, curves bear steepening after
Fed chair comments from NY Economic Club conf deemed more dovish than expected.
Likely forced curve flattener unwinds in rates and swap (30Y spd back to March
inverted lows). Equities surged on the dovish tone, but gold gained, DXY
weakened.
- Fed chair Powell gave no hint that the Fed was reevaluating its outlook for
policy or considering an imminent pause in planned rate increases. He also did
not respond to overnight criticism from President Donald Trump blaming stock
market declines and factory closures on rate hikes.
- Rates initially rallied across the board following headline, but long end
retraced/extended session lows as Q&A digested. Rate hike % for Dec FOMC remains
in upper 70%, however, March '19 hike chances around 25%.
- Heavy Tsy futures volume as rolling continued ahead March taking top step
(lead quarterly) Friday. Decent swap-tied receiving in 2s-10s. Strong 7Y auction
awarded 2.974% rate vs. 2.980% WI. Tsy cash/ylds: 2Y 99-28 (2.809%), 5Y 100-01.5
(2.863%), 10Y 100-19 (3.053%), 30Y 100-20.5 (3.339%).
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.