MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

Bull Flattening Amongst Large Swings

US TSYS
  • Treasuries have bull flattened on a day of whipsawing following a large ADP miss, the Treasury Refunding announcement and geopolitical swings.
  • ADP was almost 500k below consensus in January and further dampened expectations ahead of payrolls on Fri. Even though the initial reaction was largely unwound, it appeared to set the stage for the subsequent rally after Treasury Refunding that was largely but not completely as expected along with the US announcing the deployment of troops to Eastern Europe.
  • 2Y yields are -0.8bps at 1.158%, 5Y -1.6bps at 1.601%, 10Y -1.8bps at 1.770% and 30Y -1.2bps at 2.097%. Lower breakeven inflation had been largely behind earlier rallies but has since largely reversed.
  • TYH2 stands towards the middle of the session’s range at 128-03 having earlier got close to testing resistance of 128-11+ (20-day EMA). Volumes remain low, approximately 80% of the average for the time of day.
  • Important data releases tomorrow with ULC/productivity for Q4 along with ISM Services for Jan before Friday’s payrolls.
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.