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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 TSY FUTURES
Tsy futures fall to new session lows last few minutes, yields surge: 10YY at 2 year highs of 1.8609%, 30YY 2.1864%.
- Meanwhile, equities sell-off to mid-Dec levels, ESH2 -93.0 at 4561.75, -2.0%, financials leading the long list of laggers (Goldman Sachs off as much as 8%, largest drop since mid 2020 on 4Q earnings miss ($10.81 vs. $12.08 last year).
- No apparent headline driver for latest move, exogenous risk factor of growing tension over Russian/Belarus troop build/Ukraine invasion fears.
- Lack of bid in rates and willingness of market to get ahead of themselves in pricing rate hikes at the moment.
- Technicals, TYH2 just above intra-day low of 127-11 (-27) at 127-12, next support at 127-07: 2.236 projection of Dec 20-29-31 price swing.
- Trading desks reporting prop and fast$ buying lows in 5s and 10s, after better domestic and foreign real$ selling in 10s-30s ahead midday. Real$ selling bonds again recently.
Bloomberg/MNI
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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