Free Trial

US FI Holds Sizeable Intra-Presser Rally

US TSYS
  • Cash Tsys are off richest levels from the statement but currently still see a large intra-presser rally with 2Y and 5Y yields 6.5bps lower than before the initial FOMC statement and with a larger paring of losses vs levels just prior to the presser starting.
  • FOMC-dated OIS shows that near-term meeting are somewhat holding in with +5bp for Sep for little change and a cumulative +10bp of hikes to the Nov terminal (12bp pre-presser, 11bps pre-statement).
  • Rate cut expectation build again with 61bps to Jun’24 (54bp pre-presser) although that’s only back close to the 60bps with yesterday’s close.

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.