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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 AccessWhat to Watch: ECI, PCE, MNI Chicago PMI, Month-End
FI markets trading mildly lower, curves flatter with short end continuing to underperform and bonds just off late overnight lows (2s10s -1.956 at 18.154; 5s30s -1.299 at -3.174). Volume on the light side (TYM2<300k) for month end, markets await data, early equity earnings:
- Data on tap (prior, est) at 0830ET:
- Employment Cost Index (1.0%, 1.1%)
- Personal Income (0.5%, 0.4%)
- Personal Spending (0.2%, 0.6%)
- Real Personal Spending (-0.4%, -0.1%)
- PCE Deflator MoM (0.6%, 0.9%), YoY (6.4%, 6.7%)
- PCE Core Deflator MoM (0.4%, 0.3%), YoY (5.4%, 5.3%), followed by
- MNI Chicago PMI (62.9, 62.0) at 0945ET
- U. of Mich. Sentiment (65.7, 65.7), 1000ET
- No Treasury supply Friday, next week sees only bills:
- US Tsy $45B 13W, $42B 26W bill auctions at 1130ET Monday
- Stocks weaker, near overnight lows as market trims late Thu's gains: ESM2 currently at 4242.0 (-41.5) near the middle of week's range.
- Earnings docket continues, no releases after the close: Chevron (CVX) and Exxon Mobil (XOM) missed, Bristol Myers (BMY) and Honeywell (HON) beat, waiting for AbbVie (ABBV). Supply constraints weighing on tech shares on China lockdown worries.
- Month-end: Several large program buys noted late Thursday, month end extensions could be additional factor as Citi's model sees a rotation out of bond markets and into equities.
- Geopol risk: Market remains alert for developments on Russia war in Ukraine, knock-on effect to markets.
To read the full story
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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.