-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessUS 10Y Yield Keeps Consolidating Lower as Uncertainty Rises
- US 10Y yield has been constantly retracing lower in the past few weeks after hitting a local high of 1.77% on March 30, which corresponds to the 50% retracement of the 0.3140% - 3.26% range.
- While some investors are saying that the consolidation is a supply shock as US Treasury is borrowing less than expected due to the run down in TGA cash balance, the rising uncertainty over the Covid19 situation could also explain the recent increase in demand for 'safe' assets.
- In addition, the significant contraction in Chinese credit and liquidity since the start of the year could weigh on risky assets in the coming months and therefore result in lower LT bond yields due to higher uncertainty.
- As governments are delaying the global reopening, the probability of a renewed period of lockdown in winter 2022 keeps increasing and therefore could also result in higher demand for US Dollars and Treasury Bonds.
- The 10Y recently broke below its 100D SMA at 1.4950% last week; next support to watch on the downside stands at 1.44% (38.2% Fibo).
Source: Bloomberg/MNI
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.