Free Trial

Data Eyed As Candidates Hit The Midwest

US TSYS SUMMARY

Weakness in tech stocks post-earnings after the bell Thursday carried on into the overnight session, with Tsys moving off Thursday's lows. But equities found a footing in early European trade and Tsys have retreated in sympathy, now in the middle of the overnight range.

  • Some data out later this morning, but with little else scheduled, market participants could be forgiven for taking a breather before next week's heavy slate of events (FOMC meeting, nonfarm payrolls, refunding announcement, and of course, the election).
  • Dec 10-Yr futures (TY) up 2.5/32 at 138-15.5 (L: 138-13 / H: 138-19.5); w volume on the strong side, ~355k.
  • The 2-Yr yield is unchanged at 0.1466%, 5-Yr is down 0.6bps at 0.3638%, 10-Yr is down 0.2bps at 0.8215%, and 30-Yr is down 0.1bps at 1.6006%.
  • Dollar has fluctuated but basically trading sideways: despite strong Q3 GDP prints in Europe, the Euro shrugged as more attention on lockdowns to come, and ECB easing.
  • Another solid data slate today: 0830ET sees Sep personal income / core PCE prices, with Oct MNI Chicago PMI at 0945ET and Oct UMich sentiment at 1000ET.
  • With four days to the election, Pres Trump visits Michigan, Minnesota and Wisconsin, while Biden overlaps, in Minnesota, Wisconsin and Iowa.
  • No supply today; NY Fed buys ~$1.225B of 7.5-30Y TIPS.

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.