Free Trial

Generally quiet end to a busy week,....>

US TSY FLOWS: Generally quiet end to a busy week, rates bid but off midday highs
-- underlying bid since midweek's Dec FOMC minutes that came off
balanced/dovish, underscored in large part by half-dozen Fed speakers on
Thursday reiterating patience as tightening cycle getting long in the tooth.
- Yield curves mildly steeper for most part (5s30s +1.827, 5.164); equities
weaker but off lows (SPX -2.5 at 2591.5); US$ index bounced (DXY +.175 at
95.714) after word Turkey is ramping up military presence on Syrian border.
Speaking of borders, US Gov still shutdown amid border wall impasse between
congress and Pres Trump.
- Carry-over two-way flow after rates kicked off bid, real$ and official acct
buying, early prop and fast$ selling shorts to intermediates, bank buying 10s.
Fast$, prop acct selling/unwinding late.
- Heavy late session selling Eurodollar Red packs (-5k), Red Jun20 1yr bundles
(-15k), likely swap tied as 2Y spd expanded to session wides late. Earning picks
up next week. Tsy cash/ylds: 2Y 99-29 (2.547%), 5Y 100-14.5 (2.525%), 10Y 103-20
(2.701%), 30Y 106-18.5 (3.037%)

To read the full story

Why Subscribe to


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.