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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.
US TSYS
- Treasuries trade cheaper today with cash markets catching up on yesterday’s full closure for the Juneteenth holiday and futures after an early close.
- There is also some potential spillover from heavy EGB supply this morning with EGB yields pushing higher on the day.
- Cash yields sit 2.5-3bp higher, with 2s10s of -48bps only a little above Tuesday’s fresh YtD low of -49.5bps.
- TYU4 has pushed lower to 110-17 (-4+ ticks from the early close and -8+ from Tuesday’s full close) with elevated volumes of 465k.
- Support is seen at 109-21+ (50-day EMA) but the technical backdrop points to a bullish theme with resistance at 111-01 (Jun 14 high).
- The BoE decision at 0700ET offers some potential spillover risk before attention returns to US factors.
- Data: Jobless claims including payrolls reference period for initial (0830ET), Building permits/Housing starts May (0830ET), Current account Q1 (0830ET), Philly Fed mfg index Jun (0830ET)
- Fedspeak: Kashkari (0845ET), Barkin (1600ET), Daly (2215ET) – see STIR bullet.
- Note/bond issuance: US Tsy $21B 5Y TIPS reopen (1300ET)
- Bill issuance: US Tsy $70B each 4- and 8W bill auctions (1130ET), $60B 17W bill auctions (1300ET)
US 2s10sSource: 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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