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Policy
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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.
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Free AccessConcerted/broad-based risk-off......>
US TSYS SUMMARY: Concerted/broad-based risk-off this morning w/ Italy, Turkey,
China trade, EM stress, NKorea summit delay talk, weak German/UK data all
contributing to theme; long end-lead Tsy rally, curves (mostly) flatter, US$
climbing. Data on tap includes home sales, $36B 5Y auction followed by May FOMC
minutes at 1300ET.
- The USD index stronger (DXY +0.382, 93.991) but US$ vs. Yen -1.19, 109.70 on
improved Japan outlook; stocks recede (emini -16.5, 2709.5); West Texas crude
softer (WTI -0.38, 71.82); gold firm (XAU +5.32, 1296.47).
- Asia, Tsys kicked off w/modest bid, sideways trade in lead-up to London
crossover, Tsys ylds fell w/US$/Yen, two-way cash flows, prop and real$ buying
10s, bank portfolio and real$ buying 30s carried over to London session, program
buying belly, tactical steepener unwinds by fast$ in 2s and 5s vs. 10s, central
bank selling 5s. Swaps, mildly mixed amid two-way in front end, bank receiving
2s vs. paying at 2.77%, 2s5s flatteners, 5s6s7s fly paying belly.
- Tsy cash/ylds: 2Y 99-28.2 (2.556%), 5Y 99-17.5 (2.847%), 10Y 98-26.5 (3.010%),
30Y 98-07.5 (3.163%)
To read the full story
Sign up now for free trial access to this content.
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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.