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

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Yields Inch Higher Ahead Wed's CPI, FOMC Minutes

US TSYS
  • Treasury yield climbed higher in the first half of Monday's trade, holding a narrow range through the rest of the session on generally quiet second half. Yield curves reverse early steepening, 2s10s currently -.277 at -59.294 vs. -55.765 high.
  • Fed funds implied hike for May'23 at 18.4bp, Jun'23 18.8bp cumulative at 5.014%. Projected rate cuts later in the year also holding near Fri's levels with just under two 25bp cuts priced in for December: -44.1 cumulative at 4.396.
  • Trade volumes were light (TYM3<720k) with much of Europe still out for an extended Easter holiday, while markets showed little reaction to FEB. WHOLESALE SALES +0.4% M/M; EST. +0.6%, INVENTORIES +0.1%; EST. 0.2% data.
  • Market depth/trade volumes will likely improve tomorrow with London bank on-line, but many will be close to the sidelines ahead Wednesday's CPI (0.2% MoM est vs. 0.4% prior; 5.1% YoY est vs. 6.0% prior) and FOMC minutes for the March meeting.
  • NatWest economists suspect weaker energy prices "should weigh on the headline CPI; we expect the earlier drop in energy prices should lead to about a 5% decline in gasoline component, while increases in food prices (0.3%) and the core CPI (0.434%) should not be too different than last month (0.452%)."
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.