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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.
US TSYS
- Treasuries have seen some intraday cheapening impetus but still trade bull flatter on the day, with cash benchmarks 0.5bp to 4.5bp richer. It does however only partly reverse yesterday’s large twist steepening driven by Chair Powell’s remarks.
- They are off overnight highs across the curve, although potential catalysts for the net bid includes soft UK data, Asia-Pac liquidity provisions, the potential for some pre-weekend Israel-Hamas related hedging and Asia-Pac reaction to outright long end yield levels.
- 2s10s sit at -21bp (-4.5bp), off yesterday’s fresh ytd highs of -16.5bps.
- TYZ3 trades at 105-23 (+9), within overnight ranges and also yesterday’s ranges seen with Powell-induced volatility having touched 105-30+ with the text before a low of 105-10+ in the Q&A. The latter marks new support after which lies 104-27+ (2.0% 10-dma envelope). Volumes are robust at 370k.
- Fedspeak headlines the docket with ’23 voters Harker (0900ET) and Mester (1215ET).
- No data or issuance ahead, whilst today’s earnings schedule is relatively light compared to past days in terms of S&P market share.
Source: Bloomberg
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.
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