MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

Collective Wages Continue To Tick Higher

Q1 Sectoral Accounts Suggest Solid Real Income Gains

Services Behind Slight Fall In July ISTAT Business Confidence

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Consolidating Prior Steepening Ahead Of GDP/PCE Data

US TSYS
  • Cash Tsy yields sit 0.5bp lower to 0.5bp higher on the day as markets await key US data, plus further supply with the 7Y after yesterday's modest tail for the 5Y.
  • It consolidates yesterday’s bear steepening, with 2s10s at -27.7bps after -27.1bp yesterday marked the steepest since January.
  • TYM4 has kept to a narrow range on subdued volumes of 220k. The bear trend remains in place. At 107-26+ (+ 03), it’s off yesterday’s low of 107-20 whilst support is seen at 107-13+ (Apr 16 low).
  • Overnight flow has seen another TU/FV/UXY fly trade, selling the wings & buying the belly, after a similar structure during pre-NY trade yesterday. With the 2s5s10s cash butterfly continuing to see 5s trading close to the cheapest levels since Oct '23, the block looks to fade that move.
  • Data: GDP/PCE Q1 advance (0830ET), Weekly jobless claims (0830ET), Adv Goods trade balance Mar (0830ET), Retail and wholesale inventories Mar/Mar prelim (0830ET), Pending home sales Mar (1000ET), Kansas City Fed mfg Apr (1100ET).
  • Note/bond issuance: US Tsy $44B 7Y Note auction (91282CKN0) – 1300ET
  • Bill issuance: US Tsy $70B 4W, $75B 8W Bill auctions – 1130ET
  • Earnings: Today sees some heavy names with Microsoft and Alphabet after the close.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.