Free Trial

Await UK PM May conf vote, support.....>

US TSY FLOWS
US TSY FLOWS: Await UK PM May conf vote, support solidified through day, Tsy
futures drift near session lows as equities higher but off session highs (SPX
2686.5). GBP/US$ bumping around top end of range (+0.0155 at 1.2642) 
- Relative quiet trade, awaiting 1600ET earliest release of May confidence vote.
Earlier misc acct short covering, fast$ and prop acct buying after headline on
US rejecting EU trade reform proposal. 
- Swap spds wider w/lrg two-way in 2s w/better rate paying from 2.9145-2.9163%,
payer in3s at 2.8925%, two-way in 4s from 2.8725-2.8775%, two-way in 5s tending
toward better paying in 5s, and payer in 10s at 2.9445%. Mixed fly trade: 2s3s4s
and 2s5s7s receiver flys, 2s3s5s and 2s5s10s payer flys. Late Block sales TYH
- Another small tail, US Tsy $24B 10Y auction (9128285M8) awarded 2.915% rate
(3.209% in November; 3.112% avg) vs. 2.910% WI; 2.35 bid/cover (2.54 previous).
- Thursday: Wkly jobless claims (215k est); November import/export price
indexes; Nov Treasury budget balance (-$204.0b); $16B 30Y Bond auction. 
- Tsy cash/ylds: 2Y 99-30.5 (2.772%), 5Y 100-15.5 (2.768%), 10Y 101-26.5
(2.910%), 30Y 104-09.5 (3.151%).

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.