MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Bear Steepening With TY Futures Firmly Clearing Latest Support

US TSYS
  • Cash Tsys are off lows but have nevertheless seen a sizeable bear steepening today, with the front end currently little changed on the day but the longer end some 6-6.5bps cheaper. Gaza aid headlines appear to have helped the steepening.
  • 20s have led, despite the 20Y auction trading through by 1.2bp to break a 4-auction streak of tailing offerings across tenors in late Sept-early Oct. That auction did however elicit a quick 3bp rally on the results that has ultimately held after some gyrations.
  • TYZ3 has firmly cleared prior support at 106-03+ (Oct 4 low) with a low of 105-24, currently at 105-29 (-10) to next open 105-05+ (2% 10-dma envelope).
  • You can see a round-up of Fedspeak from today’s US session in the previous STIR bullet, with Harker (’23 voter) currently speaking but no headlines as of yet after earlier telling the WSJ the Fed should extend its pause on rate hikes.
  • Powell is clearly the main focus tomorrow at 1200ET, whilst data could provide some interest with initially jobless claims for a payrolls reference week along with existing homes sales and the Philly Fed manufacturing survey.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.