Free Trial

Leaning On EGBs For Support


The early Wednesday uptick in EGBs supports Tsy counterparts, before a block sale in TU futures (-7.5K/DV01 ~$295K) helps cap the move.

  • TY futures have failed to challenge yesterday’s best levels thus far, last -0-02 at 110-27+, 0-03 off the high of its 0-09 session range.
  • Cash Tsy yields are little changed to 1bp higher across the curve, with a modest bear flattening bias seen.
  • 2s10s and 5s30s tick further away from the multi-week highs seen at the back end of November.
  • Fed funds futures pricing holds off the recent dovish extremes, but still shows ~127bp of cuts for ’24 on the whole as of typing.
  • The first full 25bp cut is priced come the end of the May FOMC, with ~18bp of cuts showing for the March gathering.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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.