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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.
US TSYS
- A more front-loaded rate path, exemplified by Nomura now calling for consecutive 75bp hikes, has seen an acceleration on yesterday’s bear flattening in cash Tsys.
- With taper plans seen largely baked in at least for now, the curve has flattened as longer-term growth concerns are considered and 10Y yields struggle to break 3%, driving 2s10s to 18bps from a recent high of 43bps on Tuesday.
- 2YY +6.7bps at 2.749%, 5YY +3.7bps at 3.011%, 10YY +2.4bps at 2.934% and 30YY +2.0bps at 2.948%.
- The move sees TYM2 reinforce the underlying bearish condition. It sits down 6+ ticks at 118-17+ having pulled back from an earlier low of 118-08 that now forms initial support, with volumes above average through the European morning but levelling off.
- Data: Only the sweep of preliminary S&P Global PMIs for April at 0945ET.
- No issuance or scheduled Fedspeak.
Source: Bloomberg
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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