Free Trial

Attn On 7-Yr Supply, Fed's Clarida And Biden Presser

US TSYS SUMMARY

Treasuries have traded sideways with few catalysts overnight, within Wednesday's ranges and on unspectacular volumes (TY ~290k). Weekly jobs data, Fed speakers and 7-Yr supply ahead.

  • Stocks have steadied after Wed's late risk-off; USD a little higher. Risk appetite picked up in Asia Pac overnight, leading Tsys to session lows, but that's moderated since with sideways trade.
  • Jun 10-Yr futures (TY) down 1/32 at 132-02 (L: 131-30 / H: 132-05.5). 2-Yr yield is down 0.4bps at 0.1426%, 10-Yr is up 0.5bps at 1.6138%, and 30-Yr is up 0.5bps at 2.3141%.
  • Another day with plenty of Fed speakers: Vice Chair Clarida at 1010ET probably the highlight. The rest, we've heard from already since the March FOMC meeting: NY Fed's Williams at 1030ET; Atlanta's Bostic at 1200ET; Chicago's Evans at 1300ET; and SF's Daly at 1900ET.
  • Of note: Pres Biden holds his first formal press conference at 1315ET.
  • In data, jobless claims and 3rd reading of Q4 GDP at 0830ET, with KC Fed Manufacturing at 1000ET.
  • Supply concludes for the week with $80B in 4-/8-week bills at 1130ET, with $62B 7-Yr Note auction at 1300ET. Last NY Fed buy operation of the week too: ~$1.750B of 20-30Y Tsys (1030ET).

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.