MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI BRIEF: China Visitor Mobile Payments Surge in H1

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

MNI: SWEDEN Q2 GDP +0% Y/Y

MNI: SWEDEN JUN RETAIL SALES -0.1% Y/Y

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

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

Equity Bounce Tempers Tsy Risk-off Bid

US TSYS SUMMARY

Second half recovery in equities tempered strong risk-off action in rates in the first half Monday. No significant data -- geopolitical risk drivers.

  • Session volumes were already robust on geopolitical risk tied to devolving US pullout from Afghanistan situation, remains strong with equities trading weaker after the bell. 10YY 1.2217% low; 30YY slips to 1.8843% low.
  • Sources report real- and fast$ buying 10s and 30s, prop and fast$ selling 2s-5s over last 45 minutes. Modest pick-up in Sep/Dec Tsy futures rolling ahead Aug 31 first notice contributed.
  • Bonds extended early curve flattening rally: Tsy 30Y futures made new session highs on the heels of large 5s/ultra-bond flattener's significant buy-through in the ultra-bond leg: ratio slightly over the CME's 6:1 spd ratio, closer to 7:1:
    • -17,773 FVU 124-06.5, post time offer at 0927:25ET
    • +2,565 WNU 199-23, well through the 199-17 post-time offer
  • Data picks up Tuesday w/Retail Sales (-0.2% est vs. 0.6% prior), IP/Cap-U and Fed speak including Fed Chair Powell ahead Wed's FOMC minutes.
  • The 2-Yr yield is down 0.2bps at 0.2052%, 5-Yr is down 2.6bps at 0.7473%, 10-Yr is down 2.8bps at 1.2483%, and 30-Yr is down 1.1bps at 1.9182%.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.