CANADA OFFERING ITS POSTAL SERVICE UP TO CAD1B CASH BAILOUT

MNI BRIEF: US Existing Home Sales Rise 2.2% To 4.24M In Dec

MNI: US JAN FLASH MANUF PMI 50.1 (FCST: 49.8); DEC 49.4

MNI China Daily Summary: Friday, January 24

MNI BRIEF: China Electricity Growth Expected At 6% In 2025

MNI:PBOC Net Drains CNY795Bn Via MLF; Injects CNY179Bn Repo

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JAN INDEX 71.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: Tsys futures Fall On Hawkish Powell Comments

US TSYS
  • Tsys futures finished the session lower, following comments from Chairman Powell at NABE conference taken hawkishly by markets, where he said central bank will lower interest rates “over time,” while again emphasizing that the overall US economy remains on solid footing, projected rate cut pricing receding as Powell stressed the Fed is not in a hurry to cut rates. There was some earlier weakness in global rates markets following after ECB Pres Lagarde said policymakers are more confident that inflation is being brought under control, and will reflect on that at its October meeting.
  • TU closed -0-06 at 104-03⅞ while TY closed -0-14+ at 114-09, we trade just off this levels in early morning Asia trading.
  • MNI Chicago PMI comes out higher than expected at 46.6 (but still contractionary -- well below 50). The marginal rise was due to two of the five subcomponents improving significantly: Order Backlogs and Employment. Meanwhile, reductions in Supplier Deliveries, New Orders, and Production restricted the upward move.
  • Cash tsys cruves flattened, with the front-end underperforming, yields closed 1-9bps cheaper. The 2yr closed +8.2bps at 3.641%, while 10yr closed +3bps at 3.781%. The 2s10s dropped 5.516 to 13.779.
  • Comments from the Fed's Bostic, where he said he was open to another 50bps at the November meeting if the upcoming data show job growth slowing faster than expected, saw SOFR futures bought
  • Later today we have flash PMI, JOLTS and ISMs and more Fed speak from Bostic, Barkin and Cook. 
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
USGlobalBulletMarketsFixed Income BulletsRegionNorth America

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.