MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

10Y Yields Sink to 3.8% Ahead Jan Employment Report

US TSYS
  • Tsys finished strong but off late morning highs Thursday, concerns over regional bank weakness helped push Treasury futures to the highest levels since late December '23 with TYH4 tapping 113-06.5 high (+28), well through initial resistance of 112-26.5 (Jan 12 high) focus on 113-12 (Dec 27 high and bull trigger). 10Y yield falls to 3.8147% low.
  • Late morning rally appeared to be related to wider concerns over NY regional banks after New York Community Bancorp (purchaser of collapsed Signature Bank shares) fell over 40% yesterday and as much as 14% again today before paring losses to -11%. Meanwhile KBW Regional Banking Index is down -2.29% from -5.13% at midday.
  • Knock-on effect saw projected rate cut chances above post-FOMC highs briefly Thursday, before moderating in the second half.
  • Early support: Tsy futures extended highs after higher than expected Initial Jobless Claims (242k vs. 212k est) and Continuing Claims (1.898M vs. 1.839M est, prior down-revised slightly to 1.828M from 1.833M).
  • Meanwhile Nonfarm Productivity higher than expected at 3.2% vs 2.5% est (prior down-revised to 4.9% from 5.2%) while Unit Labor Costs came in at 0.5% vs. 1.2% est (prior revised to -1.1% from -1.2%).
  • Look ahead Friday Data Calendar: Jan Employ Report, UofM Inflation Expectations
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.