Free Trial

Double Auctions Headline

  • Cash Tsys see a modest rally after Friday’s bear flattening on prospects of higher rates for longer, but not before 2Y yields first touched fresh post-2007 highs in the European session with 3.5777%, possibly mild spillover from overnight/weekend hawkish ECB commentary. No data of note and the FOMC in blackout sees issuance headline today, with the double 3Y and 10Y auctions in focus before tomorrow's US CPI.
  • 2YY -2.0bps at 3.536%, 5YY -1.9bps at 3.416%, 10YY -1.1bps at 3.298% and 30YY -0.4bps at 3.443%.
  • TYZ2 trades 5 ticks higher at 115-29 on average volumes. It remains within Friday’s range but is still vulnerable, with support eyed at the new bear trigger of 115-13+ (Sep 7 low), clearance of which could open 114-26 (Jun 16 low).
  • Note issuance: US Tsy $41B 3Y notes (91282CFK2) at 1130ET, US Tsy $32B 10Y notes re-open (91282CFF3) at 1300ET
  • Bill issuance: US Tsy $42B 26W bills at 1130ET, US Tsy $54B 13W bills at 1300ET

To read the full story



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.