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A Little Weaker As FOMC Meeting Gets Underway

US TSYS SUMMARY

Tsys are slightly lower, alongside equities reversing overnight weakness - but TYfutures remain well above the week's opening levels.

  • 5-Year supply the highlight of the U.S. calendar, while 2-day FOMC meeting kicks off today, with decision tomorrow; our preview went out Monday.
  • Mar 10-Yr futures (TY) down 3/32 at 137-09 (L: 137-09 / H: 137-14.5), with the curve a little steeper: 2-Yr yield is up 0.6bps at 0.1211%, 5-Yr is up 1.3bps at 0.4151%, 10-Yr is up 1.9bps at 1.0482%, and 30-Yr is up 2bps at 1.8122%.
  • Main data is Jan consumer confidence at 1000ET; at the same time we also get Jan Richmond Fed Manufacturing.
  • Corporate earnings of interest: Microsoft, J&J, Verizon, Texas Instruments.
  • In supply: $60B of 42-/119-day bills at 1130ET, with 1300ET seeing $61B 5-Yr Tsy note auction, as well as sale of $34B in 52-week bills.
  • NY Fed buys ~$1.75B of 20-30Y Tsys.
BulletMarketsFixed Income Bullets
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