BONDS: EGBs-GILTS CASH CLOSE: Bunds Partially Fade Post-ECB Selloff

Jun-06 18:02

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Core EGBs erased most of a nascent rally Friday, with Gilt yields finishing wider. * The German cur...

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US TSYS: Post-FOMC React

May-07 18:02
  • Fast two-way trade after Fed holds rate steady, Treasury futures holding near recent highs.
  • Tsy Jun'25 10Y futures currently +6 at 111-16 vs. -17 high (10Y yld at 4.2713%), initial technical resistance well above at 112-01.5 (High May 2).
  • For bulls, price needs to trade above key short-term resistance at 112-20+, the May 1 high, to reinstate a bullish theme.
  • Cross asset: BBG US$ index near recent highs at 1219.43 (+3.09).

FED: Instant Answers: Fed Holds Steady; Notes Two-Sided Risks Have Risen

May-07 18:00
  • Federal Funds Rate Range Maximum: 4.5%
  • Number of dissenters on size of rate move: ZERO
  • Does the Fed say economic activity has slowed? No. "Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace ... Uncertainty about the economic outlook has increased further. The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen."

MNI: FED HOLDS RATES AT 4.25%-4.5%; VOTE 12-0

May-07 18:00
  • MNI: FED HOLDS RATES AT 4.25%-4.5%; VOTE 12-0
  • FED: ECONOMIC ACTIVITY STILL EXPANDING AT SOLID PACE
  • FED: RISKS OF HIGHER UNEMPLOYMENT, INFLATION HAVE RISEN
  • FED: UNCERTAINTY ABOUT OUTLOOK HAS INCREASED FURTHER
  • FED: LABOR MARKET SOLID, INFLATION SOMEWHAT ELEVATED