MNI BRIEF: Fed's Daly Sees One Or Two More Rate Cuts This Year

MNI: SOME FOMC MEMBERS PREFERRED 25BP CUT

MNI BRIEF: ECB Looks At Impact Of China Trade Freeze

MNI BRIEF: Mexico Inflation Falls To 4.58% In September

MNI BRIEF: MNI BRIEF: Brazil's September Inflation Up To 4.42%

MNI BRIEF: EC Says EV Talks With China At Important Moment

EZ/UK Bond Supply Calendar: BTP Auction on Friday

US EIA: CRUDE OIL STOCKS EX SPR +5.81M TO 422.7M OCT 04 WK

MNI:US AUG WHOLESALE INV 0.1%; SALES -0.1%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: Holding Near Lows After FOMC Minutes 25Bp Debate

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries are near late session lows after Wednesday's FOMC minutes showed "some" voting members failed to sway the 50bp cut majority at the September policy meeting.
  • "Noting that inflation was still somewhat elevated while economic growth remained solid and unemployment remained low, some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision," the report said.
  • Muted reaction to a small tail at the Tsy 10Y auction reopen (4.066% high yield vs. 4.061% WI). The Dec'24 10Y futures trade -9 at 112-06 after the bell vs. 112-04.5 low and above round number technical support of 112-00. Curves have flattened mildly after the bell, 2s10s -.230 at 4.933, 5s30s -1.552 at 43.017. Moderate volumes (TYZ4 1.4M) as market focus turned towards Thursday morning's CPI inflation measures for September.
  • Core non-housing service CPI inflation is expected to ease modestly in September from the 0.33% in August, with seven analysts eyeing an average 0.27% M/M from a range of 0.20-0.34.
  • Weekly Jobless claims, a few more Fed speakers (Cook, Barkin and Williams) and the 30Y Bond auction re-open are also on tap.
199 words

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.
  • Treasuries are near late session lows after Wednesday's FOMC minutes showed "some" voting members failed to sway the 50bp cut majority at the September policy meeting.
  • "Noting that inflation was still somewhat elevated while economic growth remained solid and unemployment remained low, some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision," the report said.
  • Muted reaction to a small tail at the Tsy 10Y auction reopen (4.066% high yield vs. 4.061% WI). The Dec'24 10Y futures trade -9 at 112-06 after the bell vs. 112-04.5 low and above round number technical support of 112-00. Curves have flattened mildly after the bell, 2s10s -.230 at 4.933, 5s30s -1.552 at 43.017. Moderate volumes (TYZ4 1.4M) as market focus turned towards Thursday morning's CPI inflation measures for September.
  • Core non-housing service CPI inflation is expected to ease modestly in September from the 0.33% in August, with seven analysts eyeing an average 0.27% M/M from a range of 0.20-0.34.
  • Weekly Jobless claims, a few more Fed speakers (Cook, Barkin and Williams) and the 30Y Bond auction re-open are also on tap.