Free Trial
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
[edited original typo of 4.128 for '07 peak, should be 5.128%]
- Cash Tsys sit cheaper on yesterday’s close but it masks intraday moves after front yields touched fresh cycle highs of 5.080% in Asia hours in a continuation of moves after Powell opened the door to a 50bp hike at the March meeting. They have subsequently rallied to 5.038%, with some pull from richer EGBs, but the move has more closely set sights on the ’07 peak of 5.128%.
- Ahead, labour data of note ahead of Friday’s payrolls, plus a second appearance from Powell and 10Y supply.
- 2YY +3bp at 5.038%, 5YY +1.8bp at 4.329%, 10YY +0.6bp at 3.970% and 30YY +0.4bp at 3.876%
- TYM3 trades just 1 tick lower at 110-29+ off overnight lows of 110-20+ came closer to the bear trigger of 110-12+ (Mar 2 low), with volumes modestly above average despite easing after an active Asia session.
- Fedspeak likely to have less impact today but still notable. Barkin (’24) at 0800ET, Powell gives round two at the House at 1000ET and the Fed Beige Book at 1400ET.
- Data: ADP (0815ET) and JOLTS (1000ET, plus annual revision) and international trade (0830ET) plus weekly MBA mortgage data (0700ET).
- Note/bond issuance: US Tsy $32B 10Y Note auction re-open (91282CGM7) – 1300ET
- Bill issuance: US Tsy $36B 17W Bill auction – 1130ET
US 2y Tsy yieldSource: 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok