Free Trial

Bond Sell-Off Extends, Short End Rout Slows

US TSY FUTURES
Post-data sell-off continues, Tsy 30Y Bonds extend lows (123-28, -1-11) as mkt mulls ISMs, particularly jump in prices paid to 51.3 from 44.5 prior (46.5 est).
  • Yield curves bear steepening (2s10s +2.426 at -87.777 vs. -91.199 low) as 2s draw some technical buying after TUM3 hit 101-21.12 low (101-22.38 last), 2YY hit 4.8931% (+.0773) highest since May 2007.
  • STIR: Fed funds implied hikes off earlier highs: Mar'23 31.2bp vs. 31.9bp high, May'23 cumulative 57.2bp vs. 58.5bp (+2.4) to 5.148%, Jun'23 76.1bp vs. 76.9bp (+2.4) to 5.337%, terminal at 5.455% in Oct'23 vs. 5.50% earlier high.

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.