© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
US TSYS

Breakevens Support The Bid On Wednesday

AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

AUSSIE 3-YEAR TECHS

(U2) Back Above Bear Trigger

AUSSIE 3-YEAR TECHS

(U2) Back Above Bear Trigger

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Market Roundup: Bear Flattening Resumes

US TSYS
BulletMarketsFixed Income
Rates trade weaker post data, curves bear flattening with short end underperforming (Block sale: -10,000 TUM2 105-10.88, sell through 105-11 post-time bid at 0841:030ET) after Personal Income is +0.5%/MoM vs. +0.4% est, Spending +1.1%MoM vs. +0.6% est, PCE Deflator in line at +0.9%, Employment Cost Index is +1.4% vs. 1.1% est.
  • Moderate volume pick-up (TYM appr 535k) amid two-way flow on lows, curve steepener unwinds as 2s10s flattens -5.511 to 14.599, 5s30s extends inversion to -5.827 (-3.952).
  • Technicals, continued bearish outlook: Moving average studies are in a bear mode and fresh cycle lows last week confirmed a resumption of the primary downtrend and an extension of the bearish price sequence of lower lows and lower highs.
  • With TYM2 trading 119-02 (-9.5) initial key support and bear trigger at 118-08 Low Apr 22; next focus on 118-02+ next, a Fibonacci projection.
  • On the flipside, key short-term resistance has been defined at 120-18+, the Apr 27 high.
  • Cross-assets:
    • Gold is up $16.02 (0.85%) at $1910.49
    • WTI Crude Oil (front-month) up $1.03 (0.98%) at $106.42
169 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
Rates trade weaker post data, curves bear flattening with short end underperforming (Block sale: -10,000 TUM2 105-10.88, sell through 105-11 post-time bid at 0841:030ET) after Personal Income is +0.5%/MoM vs. +0.4% est, Spending +1.1%MoM vs. +0.6% est, PCE Deflator in line at +0.9%, Employment Cost Index is +1.4% vs. 1.1% est.
  • Moderate volume pick-up (TYM appr 535k) amid two-way flow on lows, curve steepener unwinds as 2s10s flattens -5.511 to 14.599, 5s30s extends inversion to -5.827 (-3.952).
  • Technicals, continued bearish outlook: Moving average studies are in a bear mode and fresh cycle lows last week confirmed a resumption of the primary downtrend and an extension of the bearish price sequence of lower lows and lower highs.
  • With TYM2 trading 119-02 (-9.5) initial key support and bear trigger at 118-08 Low Apr 22; next focus on 118-02+ next, a Fibonacci projection.
  • On the flipside, key short-term resistance has been defined at 120-18+, the Apr 27 high.
  • Cross-assets:
    • Gold is up $16.02 (0.85%) at $1910.49
    • WTI Crude Oil (front-month) up $1.03 (0.98%) at $106.42