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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.
US TSYS
- Cash Treasuries are closed across regions today for Independence Day.
- TYU4 trades in narrow ranges at 109-29+ (-04 from yesterday's early settle) on very low volumes of 135k.
- It consolidates the bulk of yesterday’s rally that saw a high of 110-04 on a slew of dovish releases including ADP (modest), jobless claims and a sizeable miss for ISM services.
- Initial firm resistance is at 110-16 (Jun 28 high) but the bear threat is still present with support at 109-02+ (Jul 1 low) just above the key support at 109-00+ (Jun 10 low).
- Fed Funds implied rates hold yesterday’s drop. Ahead of tomorrow’s payrolls report, markets increasingly look at a September cut with now a cumulative 19.5bp priced and with a total 48bp of cuts for 2024 (vs the single cut for the median FOMC participant).
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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