All signal, no noise
All signal, no noise
All signal, no noise
Latest insights
National Institute of Economic and Social Research deputy director Millard talks about the BOE and the UK labour market.
May-05 13:35Banxico decided to cut borrowing costs to 6.75% at its last meeting in March.
May-05 13:34Former director of the Division of International Finance at the Fed Board of Governors Nathan Sheets talks about rates.
May-05 13:00MNI looks at the outlook for the EU's fiscal rules.
May-05 11:29Analysts expect the NBP to leave interest rates unchaged, while the Governor's presser may shed light on the outlook.
May-05 10:38
MNI INTERVIEW: Market Overestimating RBNZ Hikes - Ex Econ

MNI INTERVIEW: Market Overestimating RBNZ Hikes - Ex Econ

MNI INTERVIEW: US Services Growth Still Largely Intact - ISM

MNI INTERVIEW: US Services Growth Still Largely Intact - ISM
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Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the page
MNI INTERVIEW: Market Overestimating RBNZ Hikes - Ex Econ

MNI INTERVIEW: Market Overestimating RBNZ Hikes - Ex Econ

MNI INTERVIEW: US Services Growth Still Largely Intact - ISM

MNI INTERVIEW: US Services Growth Still Largely Intact - ISM
Key Events
Calendar
Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the pageLatest insights
National Institute of Economic and Social Research deputy director Millard talks about the BOE and the UK labour market.
May-05 13:35Banxico decided to cut borrowing costs to 6.75% at its last meeting in March.
May-05 13:34Former director of the Division of International Finance at the Fed Board of Governors Nathan Sheets talks about rates.
May-05 13:00MNI looks at the outlook for the EU's fiscal rules.
May-05 11:29Analysts expect the NBP to leave interest rates unchaged, while the Governor's presser may shed light on the outlook.
May-05 10:38Newsletter
MNI ASIA OPEN: ISMs on Dovish Side, Hiring Rates Bounce
May-05 20:08MNI ASIA MARKETS ANALYSIS: New Nasdaq Highs as Crude Retreats
May-05 20:05MNI US MARKETS ANALYSIS - RBA Hike Fails to Draw New AUD Bulls
May-05 10:57MNI US OPEN - Attacks in Gulf Threaten to Reignite War
May-05 09:31MNI DAILY TECHNICAL ANALYSIS - EStoxx Undermines Bull Theme
May-05 07:44MNI EUROPEAN MARKETS ANALYSIS: RBA Hikes, More Likely To Come
May-05 05:49MNI EUROPEAN OPEN: Truce Under Threat as Shots Fired in Gulf
May-05 05:30MNI ASIA OPEN: Geo-Pol Tensions Simmer, Tsy Raises Borrow Ests
May-04 19:43MNI Technical Analysis
Monitoring A Multi-Year Range In WTI

FI Market Analysis
Read moreFI Market AnalysisRBA likely hikes amid persistent inflation, tight labour, geopolitical uncertainty
May 04, 2026 02:00The week's climb in WTI back above $100 helps see cuts almost priced out whilst three dissented against an easing bias
May 01, 2026 04:54Download Full Report Here: https://media.marketnews.com/MNI_US_Deep_Dive_Issuance_2026_04_b3024c8748.pdf May Refunding Preview: Guidance Is Due To Change * Treasury's May Refunding round starts on Monday (1500ET) with the Treasury's update on financing requirements for the current (Apr-Jun) and next (Jul-Sep) quarters. More attention will be on the full Refunding announcement on Wednesday (0830ET). * Nobody expects any changes to nominal auction sizes for the upcoming quarter (coupons have held steady for 8 consecutive refundings), but there are fairly split expectations over whether Treasury will make a long-awaited tweak to the guidance ("Treasury anticipates maintaining nominal coupon and FRN auction sizes for at least the next several quarters") at this refunding. * In a close call, we anticipate that the guidance will be tweaked at this meeting, probably by removing the words "at least", which would keep open the possibility of coupon size increases next year ("next several quarters"). * MNI's central expectation is that coupon upsizings will not take place until February or May 2027. Most analysts now see February 2027 as the base case, with some having pushed back their expectations from November 2026 in recent months. * May Auction Schedule: The upcoming Refunding month will see auctions starting May 11 with $58B in 3Y Note, May 12 with $42B in 10Y Note, and May 13 with $25B of 30Y Bond (CUSIPS TBA). May as a whole will see $324B in nominal coupon issuance, $19B in 10Y TIPS and $28B in 2Y FRN for a total of $371B for the month. * Monthly Auction Review: April's coupon auctions were generally a little soft, but not to the extent that they drove significant market reactions. Five of the seven auctions tailed, but none saw greater than 0.5bp deviations from when-issued levels.
May 01, 2026 04:18Austria, Germany, Spain, France and Belgium will all look to issue in the upcoming week.
May 01, 2026 12:45FX Market Analysis
Read moreFX Market AnalysisThe week's climb in WTI back above $100 helps see cuts almost priced out whilst three dissented against an easing bias
May 01, 2026 04:54A weekly wrap of some of the key data outcomes/macro themes for the Asia Pac region.
May 01, 2026 05:57The ECB unanimously held rates today but with an in-depth discussion on a potential rate hike; June still heavily priced
April 30, 2026 05:38Eurozone April headline HICP printed marginally above consensus at 3.04% Y/Y
April 30, 2026 04:11



