Free Trial

Update: Post-Data React

US TSYS
  • Tsy futures have recovered from post-data selling, back near pre-data levels on heavy volumes (TYH4>1.5M already) as ECB's Lagarde press conference continues. 10Y yield currently 3.9525% (-.0639) vs. 3.9301% low, curves flatter: 3M10Y -4.036 at -142.801, 2Y10Y -1.307 at -42.734.
  • Projected rate cuts for early 2024 have consolidated slightly: January 2024 cumulative -4.3bp at 5.288%, March 2024 chance of rate cut climbs to -82.8% vs. -84.3% earlier w/ cumulative of -24.7bp at 5.085%, May 2024 chance of cut at -98.3% after fully pricing in the first cut of 2024 earlier, cumulative -49.3bp at 4.840%. Fed terminal at 5.33% in Feb'24.

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.