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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.
BONDS
- Bund is taking another leg higher and an extension to 132.79 would represent a full US CPI reversal, although the contract did print a 132.86 on that day (Wednesday).
- US Tnote is so far fairly unmoved, as desks favours for the ECB to be the first in cutting their rates.
- TYM4 would require a test all the way to 109.22+ to unwind the US CPI sell off.
- Price action in Futures means that the Tnotes/Bund is seeing further widening, by another 3.4bps today.
- The spread is now at its widest level since December 2019, and the next upside resistance will be seen at 220.5bps, the November 2019 high, and the widest print since early October 2019.
Chart source: MNI/Bloomberg.
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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