MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

CHINA PBOC CONDUCTS CNY59 BILLION VIA 7-DAY REVERSE REPOS FRI

Japan Jun Core CPI +2.6% Y/Y; Energy Price Up

MNI BRIEF: Japan June Core CPI Rises 2.6% Vs. May +2.5%

CLARIFY: JAPAN JUNE SERVICES PRICES +1.7% Y/Y; MAY +1.6%

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

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

Bear Steepening Amid Risk On Move

US TSYS

The Treasury curve has bear steepened to open the week, with futures a little softer.

  • A fairly risk-on Asia-Pac and European session, with equities rising and the dollar continuing to retrace from Friday's 2021 highs.
  • The 2-Yr yield is up 0.6bps at 0.2303%, 5-Yr is up 1.6bps at 0.7981%, 10-Yr is up 2.2bps at 1.2768%, and 30-Yr is up 2.3bps at 1.8917%.
  • Sep 10-Yr futures (TY) down 4/32 at 134-00 (L: 133-30 / H: 134-06). 133-29 is the Aug 18 low and support.
  • Chicago Fed Nat Activity Index at 0830ET is followed by flash August PMIs at 0945ET, then existing home sales at 1000ET. Supply consists of $99B 13-/26-week bill auctions at 1130ET. NY Fed buys ~$3.225B of 7-10Y Tsys.
  • No Fed speakers scheduled until Chair Powell at Jackson Hole on Friday (1000ET - the conference is now virtual vs in-person, as announced late Fri). BBG sources piece out over the weekend saying Treas Sec Yellen supports Powell's re-appointment.
  • Some attention on the $3.5T budget resolution, with Democrats sparring internally about how to proceed. House Democratic leaders meet this afternoon, with Democratic Caucus meeting Tuesday 0900ET.
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.