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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.
US TSYS
- Cash Tsys sell-off through the London session as rate hikes are priced back in after yesterday’s sizeable rally, led by the front-end for a decent-sized bear flattening.
- 2YY +5.6bps at 1.396%, 5YY +4.4bps at 1.638%, 10YY +2.2bps at 1.750%, 30YY +1.5bps at 2.121%.
- 2YY sit 23.5bps below post US CPI highs but nevertheless 2s10s is down to just 35bps, the flattest since March 2020 and approaching a 76.4% retracement of the 2019-2021 steepening.
- TYM2 sits 15 ticks lower at 128-08+ on modestly above average volumes after yesterday’s huge volumes. Resistance is eyed at 128-23 (Jan 13 high).
- Fedspeak: Powell testifies before the House Panel at 1000ET (no confirmed time if a text will be pre-released, it wasn’t last night), with both Evans (2023 voter) at 0900ET and Bullard (2022) at 0930ET beforehand. NY Fed VP Logan speaks on asset purchases (1630ET).
- Data: ADP employment for Feb (0815ET) as a prelude to Friday’s payrolls with the Beige Book later (1400ET).
- Bill issuance: US Tsy $35B 119D-Bill CMB auction (1130ET).
US 2Y and 10Y yields plus 2s10sSource: Bloomberg
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.
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