Free Trial
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
- Cash Tsys bear steepen, with the Asia-Pac cheapening/steepening impulse extending in early London trading before only a modest paring of losses.
- The recent run of "Goldilocks" data out of the U.S., negative carry of flattener plays in an inverted curve scenario, BoJ YCC tweak, an element of apparent relatively long cash Tsy positioning and supply-related worries have seemingly factored into the latest run of steepening, which leaves 10+-Year yields at fresh YtD highs, while the 2s10s at -76bps and 5s30s curves run at multi-week highs (2s10s at -76bps off an earlier -74bps).
- 2YY+2.7bp at 4.904%, 5YY +4.9bp at 4.286%, 10YY +6.5bp at 4.143% and 30YY +7.0bp at 4.245%.
- TYU3 trades 13 ticks lower at 110-12+ off lows of 110-09+, as it moves close to the bear trigger at 110-05 (Jul 6 low) after which sits 109-14 (Nov 8, 2022 low). The moves have come with heavy cumulative volumes of almost 400k.
- Data: ULC/productivity Q2 prelim (0830ET), Weekly jobless claims (0830ET), S&P Global service/composite PMI Jul final (0945ET), ISM services Jul (1000ET), Factory orders Jun (1000ET)
- Fedspeak: Barkin on economy (0830ET)
- Bill issuance: US Tsy $70B 4W, $60B 8W bill auctions (1130ET)
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok