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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
- Treasuries have rallied in recent trading, reversing flows from early in the European session as US desks filter in.
- It pushes push the front-end back to unchanged on the end and the longer-end to richer levels (cash yields now 0-1bp lower on the day), with 2s10s pushing lower to fresh YTD lows of circa -50bps.
- TYU4 has seen a high of 110-23 on still subdued cumulative volumes of 255k. It tests yesterday’s high of 110-22 in a continuation of the bullish pattern, and with resistance seen at 111-01 (Jun 14 high).
- The Conference Board consumer survey headlines data but there is also notable Fedspeak as well as the 2Y auction after last month’s 2Y saw the lowest bid-to-cover since 2021.
- Data: Philly Fed non-mfg Jun (0830ET), Chicago Fed national activity May (0830ET), FHFA and S&P CoreLogic house prices Apr (0900ET), Conf Board consumer survey Jun (1000ET), Richmond Fed mfg Jun (1000ET), Dallas Fed services Jun (1030ET)
- Fedspeak: Fed Gov Bowman on mon-pol & bank reform (0700ET, text + Q&A), Fed Gov Cook economic outlook (1200ET, text + Q&A) and Fed Gov Bowman recorded open remarks (1410ET, text) - see STIR bullet.
- Note/bond issuance: US Tsy $69B 2Y Note auction - 91282CKY6 (1300ET)
- Bill issuance: US Tsy $60B 42D CMB auction (1130ET)
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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