MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

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

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: US OCT CONSTRUCT SPENDING +0.4%

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

Markets Roundup: Rates Ignore Debt Ceiling Optimism

US TSYS
Treasury futures are holding modestly weaker levels across the board after the bell, gradually paring losses over the last hour (10Y futures -10 at 114-19.5 vs. 114-15.5 low) while curves maintain flatter profiles (2s10s -57.626 vs. -60.549 low).
  • Markets remained sensitive to debt ceiling headlines, though the phenomena was not as apparent in rates as it was in equities as stocks rallied on hopes over a "doable" debt ceiling plan by Sunday. Treasury futures uncoupled from the improved risk appetite and instead traded weaker/curves flatter as projected rate cuts by year end softened (Fed fund futures now only pricing in 55.1bp in cumulative cuts by December to 4.524% vs. over a full point a week ago).
  • Rates showed little initial reaction to latest housing starts (1.401M) building permits (1.416M) data, and inching off lows briefly after the $15B 20Y bond auction (912810TS7) trades through: 3.954% high yield vs. 3.962% WI; 2.56x bid-to-cover vs. prior month's 2.66x.
  • CNN has reported that Treasury Secretary Janet Yellen will meet with bank CEOs, including JPMorgan Chase's Jamie Dimon and Citigroup's Jane Fraser on Thursday. The meeting has been previously reported but unconfirmed.
  • Note, Fed Chairman Powell and former Fed Chairman Bernanke will have live discussion on policy this Friday at 1100ET.
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.