BRIEF: Spain Proposes Small Group Pioneer CMU

BRIEF: EU's Gentiloni-Limit To Budget Deadline Flexibility

MNI BRIEF: Talks On France Budget Promising - EU Gentiloni

RPT-MNI INTERVIEW: Banxico To Continue Easing Through 25-Tapia

MNI BRIEF: Fed's Goolsbee Sees Rates 'A Fair Bit Lower'

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI JAPAN AUG HOUSEHOLD SPENDING -1.9% Y/Y; JULY +0.1%

MNI: UK BRC SEP BY VALUE SHOP SALES LFL +1.7% YY, TOTAL +2% YY

MNI: US AUG CONSUMER CREDIT +$8.9B

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: Tsy Curves Resume Bear Flattening, Rate Cut Cut Pricing Cools

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries look to finish the week opener near session lows, heavy carry-over selling after last Friday's larger than expected September jobs gain and dip in the unemployment rate to 4.1%.
  • Curves dis-inverted briefly, 2s10s flattening to -1.248 before finishing around 3.273 (-.878) after the bell - compares to nearly +20.0 early last week. Note, 2Y yield climbed to 4.0223% high, 10Y yield tapped 4.0314% high.
  • Meanwhile, projected rate cuts continue to recede -- November not fully pricing a 25bp cut now: Nov'24 cumulative -22bp (-26.6bp late Fri), Dec'24 -48.5bp (-57.2bp), Jan'25 -68.4bp (-80.9bp).
  • Limited if any reaction to Fed speakers today, MN Fed President Kashkari said risks of higher inflation is waning as he defended his 50bp rate cut decision, sees neutral rate at around 3%
  • Limited data today and tomorrow, focus on Wednesday's minutes for the September FOMC, CPI on Thursday and PPI Friday. Note, Friday also sees the start of the latest earnings cycle with Bank of NY Mellon, Wells Fargo, JP Morgan and Blackrock announcing.
164 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 look to finish the week opener near session lows, heavy carry-over selling after last Friday's larger than expected September jobs gain and dip in the unemployment rate to 4.1%.
  • Curves dis-inverted briefly, 2s10s flattening to -1.248 before finishing around 3.273 (-.878) after the bell - compares to nearly +20.0 early last week. Note, 2Y yield climbed to 4.0223% high, 10Y yield tapped 4.0314% high.
  • Meanwhile, projected rate cuts continue to recede -- November not fully pricing a 25bp cut now: Nov'24 cumulative -22bp (-26.6bp late Fri), Dec'24 -48.5bp (-57.2bp), Jan'25 -68.4bp (-80.9bp).
  • Limited if any reaction to Fed speakers today, MN Fed President Kashkari said risks of higher inflation is waning as he defended his 50bp rate cut decision, sees neutral rate at around 3%
  • Limited data today and tomorrow, focus on Wednesday's minutes for the September FOMC, CPI on Thursday and PPI Friday. Note, Friday also sees the start of the latest earnings cycle with Bank of NY Mellon, Wells Fargo, JP Morgan and Blackrock announcing.