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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.
US TSYS
- Cash Tsys are solidly cheaper as the US comes in, having come under pressure alongside the wider core global FI space in the early London morning, with flow as opposed to headlines at the fore.
- A continuation of yesterday’s sell-off, it sees 2Y yields at 4.82% close the gap on pre-CPI levels just marginally above 4.85% for a significant move off last week’s low of 4.605%. A solid docket ahead, with jobless claims, existing home sales and 10Y TIPS supply likely headlining along with further pre-market earnings including Johnson & Johnson and Philip Morris.
- 2YY +5.6bp at 4.822%, 5YY +6.2bp at 4.047%, 10YY +4.5bp at 3.793% and 30YY +2.6bp at 3.865%
- TYU3 pushes new session lows of 112-17 (-15) back to Monday levels, albeit on subdued volumes of just 230k. Support is seen at 112-07+ (Jul 13 low), whilst a more concerted push lower could open 111-03+ (Jul 11 low).
- Data: Weekly jobless claims (0830ET), Philly Fed mfg outlook Jul (0830ET), Existing home sales Jun (1000ET), Leading index Jun (1000ET)
- Note/bond issuance: US Tsy $17B 10Y TIPS auction (91282CHP9)
- Bill issuance: US Tsy $70B 4W, $60B 8W bill auctions
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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