MNI China Daily Summary: Wednesday, February 5

MNI: UK FINAL JAN SRVCS PMI 50.8 (FLASH: 51.2); DEC 51.1

MNI: EUROZONE JAN FINAL SRVCS PMI 51.3 (FLASH: 51.4); DEC 51.6

MNI BRIEF: China Spring Festival Trips Up 5.9% Y/Y

MNI: PBOC Net Drains CNY716.5 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1693 Weds; -1.18% Y/Y

MNI: EUROZONE DEC PPI +0.4% M/M, +0% Y/Y

MNI: GERMANY FINAL JAN SRVCS PMI 52.5 (FLASH: 52.5); DEC 51.2

MNI: FRANCE FINAL JAN SRVCS PMI 48.2 (FLASH: 48.9); DEC 49.3

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: Back Little Changed Awaiting Next (Political?) Driver

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Treasuries have lifted off overnight lows for back little changed on the day. It’s ahead of a light docket, which could give a little more attention on today’s earnings covering JnJ (announced, adj EPS $2.04 vs est $1.99), Procter& Gamble, Abbott Laboratories, and GE Vernova. MNI EARNINGS CALENDAR. Political headlines are likely in the driving seat though.
  • Cash yields 0.3bp higher (3s) to 0.9bp lower (20s) as they broadly consolidate yesterday’s flattening.
  • 2s10s at 30.2bps (-0.2bp) compares to yesterday’s low of 28.4bps for lows since Dec 31.  
  • TYH5 sits at 108-24+ (+01) having lifted off an overnight low of 108-19 but it’s remained well within the week’s range, book-ended by a low of 108-08+ and high of 109-04. Cumulative volumes are modest at 285k.
  • The medium-term trend condition remains bearish, with support at 108-00 (Jan 16 low) before a bear trigger at 107-06 (Jan 13 low). To the upside, initial resistance is seen at that 109-04 before 109-06 (Dec 31 high).
  • Data: MBA mortgage applications (0700ET), Leading index Dec (1000ET)
  • Coupon issuance: US Tsy $13B 20Y Bond re-open - 912810UF3 (1300ET)
  • Bill issuance: US Tsy $64B 17W bill & $65B 33D CMB auctions (1130ET)
191 words

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.
  • Treasuries have lifted off overnight lows for back little changed on the day. It’s ahead of a light docket, which could give a little more attention on today’s earnings covering JnJ (announced, adj EPS $2.04 vs est $1.99), Procter& Gamble, Abbott Laboratories, and GE Vernova. MNI EARNINGS CALENDAR. Political headlines are likely in the driving seat though.
  • Cash yields 0.3bp higher (3s) to 0.9bp lower (20s) as they broadly consolidate yesterday’s flattening.
  • 2s10s at 30.2bps (-0.2bp) compares to yesterday’s low of 28.4bps for lows since Dec 31.  
  • TYH5 sits at 108-24+ (+01) having lifted off an overnight low of 108-19 but it’s remained well within the week’s range, book-ended by a low of 108-08+ and high of 109-04. Cumulative volumes are modest at 285k.
  • The medium-term trend condition remains bearish, with support at 108-00 (Jan 16 low) before a bear trigger at 107-06 (Jan 13 low). To the upside, initial resistance is seen at that 109-04 before 109-06 (Dec 31 high).
  • Data: MBA mortgage applications (0700ET), Leading index Dec (1000ET)
  • Coupon issuance: US Tsy $13B 20Y Bond re-open - 912810UF3 (1300ET)
  • Bill issuance: US Tsy $64B 17W bill & $65B 33D CMB auctions (1130ET)