MNI BRIEF: New Powers For UK Fiscal Body As Spending Overshot

MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Back Where We Started

US TSYS
Tsys currently trading firmer, are well off first half highs after the bell. Rate support evaporated after the $33B 10Y note auction reopen tailed, the high yield of 2.960% vs. 2.937% WI -- actually matched the high yield for the $34B 1Y bill sale earlier in the session. Rates pared gains/extended session lows while yield curves finished flatter but well off lows as accts square up ahead Wed's CPI MoM (1.0%, 1.1%); YoY (8.6%, 8.8%).
  • Early rate bid: US rates took cues from German Bunds in early London trade, rallied on weak ZEW current Conditions -45.8. Tsy futures traded back to last week's pre-FOMC minutes levels: 30YY falling to 3.0833% in the first half.
  • Large Block buys in 2s (37.5k) and 5s (15.1k) earlier. Pre-auction short sets ahead US Tsy $33B 10Y Note auction re-open (91282CEP2) at 1300ET.
  • Earlier comments from Richmond Fed's Barkin ('24 voter) appears to see increased difficulty at managing a soft-landing in the economy when updating remarks from a Jun 21 speech called the Recession Question.
  • Reminder: Earnings season kicks off this week, with financials and banks the early focus. Just over 5% of the S&P 500 by market cap are due to report, with the releases in focus including JP Morgan, Morgan Stanley, BNY Mellon, BlackRock, Citigroup, State Street, UnitedHealth and Wells Fargo.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.