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Late Market Roundup

US TSYS

Tsys weaker after the bell, Bonds off early session lows (30YY +.0400 at 3.6947% vs. 3.7148% high) w/ curves running mixed after bear steepening earlier (2s10s -1.950 at -71.523 vs. -67.092 high).

  • Trade volumes remain subdued (TYH3 <950k) w/ much of Asia out for Lunar New Year holidays this week (China, Taiwan Mon-Fri; Vietnam Mon-Thu; Hong Kong Mon-Wed; Singapore and South Korea Mon-Tue).
  • No react to midmorning data: US December Leading Indicator -1.0% MoM vs. -0.7% est, while absence of Fed speak w/ members in media blackout through Feb 2, has sapped market interest somewhat.
  • Equities remain strong, however, off highs amid modest profit taking in late trade Monday. Information Technology and Communication Services sectors continued to outperform.
  • Pick-up in data Tue w/ Philly-Fed Non Mfg Activity (-12.8 rev, --), Richmond Fed Mfg Index (1, -5); Bizz Cond (-14, --) and S&P Global US Manufacturing PMI (46.2, 46.0), Services PMI (44.7, 45.0); Comp PMI (45, 47.0) expected.
  • Treasury auctions: $34B 52W bill CMB auction at 1130ET, $42B 2Y Note auction (91282CGG0) at 1300ET.
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