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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 AccessUS TSYS: Extending Yesterday’s PPI Driven Gains Ahead Of CPI
- Treasuries have nudged through yesterday’s post-PPI highs, aided at the margin by a rolling over in WTI futures, as they push further towards the middle of post-payrolls ranges ahead of today’s CPI report.
- Cash yields are 0.3-0.1bp lower on the day, led by the long end, with all benchmark tenors setting new lows for the week.
- Both 2Y and 10Y yields sit roughly towards the middle of ranges seen since the initial reaction to the weak payrolls reports, comfortably above the following Monday’s global risk-off but also more than 15bps off last week’s post-jobless claims high for the 2Y.
- TYU4 at 113-24(+ 04) has edged past late yesterday’s 113-22, with reasonable cumulative volumes of 265k for a pre-US CPI overnight.
- The trend needle points north with resistance at 114-03 (Aug 6 high) and a bull trigger at 115-03+ (Aug 5 high), whilst support is seen at 112-11 (20-day EMA) in the event of a hawkish CPI surprise
- Data: MBA mortgages Aug 9 (0700ET), CPI Jul (0830ET), Real average earnings Jul (0830ET)
- Bill issuance: US Tsy $60B 17W Bill auction (1130ET)
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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.