Morgan Stanley Fixed-Global Macro Commentary June 11-108668894

MJune11,202410:35PMGMTMorganStanley&Co.LLCUpdateGlobalMacroCommentaryNorthAmericaAlexandraMaier+1212761-0428+44207425-9781June11StrategistAlexandra.Maier@morganstanley.com+1212761-2779USTsrallyafterstrong10yauction;OATsunderperform;MXN+44207425-1877weakensalongsiderisk-offsentiment;ECB'sLanesaysEURMorganStanley&Co.Internationalplc+moveswouldnotaffectinflation;Thailandoutperformsaheadof+8136836-8431BoT;BoKmemberbelievesconditionsmettoeasepolicy;DXYDominicJKrummenacher+8522239-7983at105.27(0.1%);US10yat4.404%(-6.3bp).Strategist•USTyieldsfallaheadofWednesday’sCPIdataandFOMCmeeting,Dominic.Krummenacher@morganstanley.comwiththerallyacceleratingfollowingastrong10yauctionthatsawthehighestbid-to-coverratio(2.67x)sincethestartofthehikingMorganStanley&Co.LLCcycle.LenoyDujon•OATscontinuetounderperformtheeuroareaamiduncertaintyregardingtheFrenchelections;10yOAT/BundspreadwidenstooverUS/CanadaEconomist65bpintraday,thehighestlevelsince2020.Lenoy.Dujon@morganstanley.com•Broadrisk-offsentimentinMexicocontinuesandMXN(-1.8%)MorganStanley&Co.Internationalplc+extendslossesasPresident-electSheinbaumsaysproposedjudicialreformswouldbe“amongthefirst”thatcouldbepassed.Marie-AnaisCFrancois•ECBChiefEconomistLanesaystheEURhasbeen"incrediblystable"StrategistinadvanceofandsincetheECBratecutinJune,adding“theMarie-Anais.Francois@mor...