Free Trial

GoCs Sell Off As US Retail Sales Eyed

  • GoCs see a broadly parallel sell-off across the curve of ~3.5-4bps, which compared to the bear flattening in Tsys sees outperformance at the front-end and underperformance at the long-end.
  • There are similar forces in early trading for front rates, with BAX futures implied yields lagging the rise in Eurodollars.
  • A lack of local drivers until tomorrow's CPI leaves US Fedspeak and data as key triggers. Bullard at 0800ET could come up with particularly bullish headlines whilst focus will likely be on growth and inflation implications from US retail sales at 0830ET.

To read the full story



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.