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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 Tsy yields are off earlier highs but have still seen a sizeable bear flattening, driving the curve to new recent flats and in the case of 5s30s, the first inversion since 2006.
- A two-stage lockdown in Shanghai and the further inflationary pressure this could have helped drive the overnight sell-off, only partially reversed by Russia downplaying the chances of Putin and Zelensky meeting, noting a lack of progress in talks and noting Biden’s statements on Putin as being alarming.
- 2YY +7.1bps at 2.340%, 5YY +5.1bps at 2.596%, 10YY +1.5bps at 2.488%, 30YY +0.3bps at 2.588%.
- TYM2 sits 4 ticks lower on the day at 121-13+, but off an earlier low of 120-30+ which now forms first support just above 120-28, the continuation of the Dec 26, 2018 low. Volumes are solid for the day as a whole but have slowed down in recent trading.
- Data: Second tier data releases with wholesale & retail inventories, the advance goods trade balance and Dallas Fed manufacturing activity.
- Bond issuance: US Tsy $50B 2Y Note auction (1130ET) and US Tsy $51B 5Y Note auction (1300ET)
- Bill issuance: US Tsy $57B 13W, $48B 26W bill auctions (1130ET)
US 2s10s and 5s30s Tsy curvesSource: Bloomberg
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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