MNI: SPAIN NOV MANUF PMI 53.1 (FCST 54.0); OCT 54.5

MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Market Roundup: Risk-On Cues From Nord Stream News

US TSYS

Inside range for rates in late morning trade, Bonds bouncing back near middle of range just minutes after extending session lows. The bounce in 30YY to 3.1924% coincided with headlines re: Nord Stream 1 pipeline to restart flow at reduced levels sometime Thursday. Closed due to maintenance - the reopening underscored the morning risk-on tone, Tsys and EGBs lower, equities extending gains (ESU2 +73.25 at 3907.0).

  • Yield curves mixed, 2s10s steeper but off highs at -18.188 (+1.327) vs. -15.344 high. Overall volumes remain light, TYU2 still under 650k. Pick-up in swappable debt issuance from domestic/foreign banks generating rate lock selling in short end to intermediates.
  • Technicals for TYU2: Currently 118-06 - well clear of the first support at 117-18. The short-term trend outlook remains bullish and the recent pullback is considered corrective. Key short-term support is at 116-11, Jun 28 low where a break would strengthen a bearish threat and signal scope for a deeper retracement. On the upside, attention is on the short-term bull trigger at 120-16+, the Jul 6 high. A break resumes the uptrend.
  • Cross-asset, crude weaker but off lows (WTI -0.72 at 101.88 vs. 99.97 low), Gold firmer +3.63 at 1712.85.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

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.