Free Trial

Bull Flatter On BoJ and Softer Eurozone Data

US TSYS
  • Treasuries sit bull flatter after a dovish leaning BoJ overnight and then softer than expected Eurozone CPI inflation and GDP growth, trading between 3.5bp and 8bp richer across benchmark tenors.
  • It sees 2s10s drop to -19.6bps (-4bps on the day) back to levels seen mid-to-late last week.
  • TYZ3 trades within a few ticks of its session high of 106-19 after solid cumulative volumes of 415k. It has moved close to resistance at 106-25+ (20-day EMA) but the trend structure remains bearish with support seen at the bear trigger of 105-10+ (Oct 19 low).
  • Data: ECI Q3 (0830ET) headlines the docket but it's also followed by FHFA house prices Aug (0900ET), S&P CoreLogic house prices Aug (0900ET), MNI Chicago PMI Oct (0945ET), Dallas Fed services Oct (1030ET)
  • Bill issuance: US Tsy $44B 52W, $75B 42D CMB Bill auctions (1130ET)

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.