Free Trial

MNI ASIA MARKETS ANALYSIS: Yields Climb On Double Auction Tails

HIGHLIGHTS

  • Treasury bear steepen, with a sizeable climb in yields on the Conference Board consumer survey before sizeable tails at double 2Y and 5Y auctions.
  • Equity futures reverse earlier gains amidst large sell programs to move the S&P 500 e-mini further away from cycle highs.
  • The DXY index also reverses earlier losses but only back to yesterday's close after Memorial Day thinned trade.
  • WTI increases strongly, driven by expectations that OPEC+ will rollover voluntary cuts and keep a lid on supply.
  • Australia CPI is in focus for the APAC docket whilst the US session sees further supply with the $44bn of 7Y notes.

Keep reading...Show less
1977 words

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.

HIGHLIGHTS

  • Treasury bear steepen, with a sizeable climb in yields on the Conference Board consumer survey before sizeable tails at double 2Y and 5Y auctions.
  • Equity futures reverse earlier gains amidst large sell programs to move the S&P 500 e-mini further away from cycle highs.
  • The DXY index also reverses earlier losses but only back to yesterday's close after Memorial Day thinned trade.
  • WTI increases strongly, driven by expectations that OPEC+ will rollover voluntary cuts and keep a lid on supply.
  • Australia CPI is in focus for the APAC docket whilst the US session sees further supply with the $44bn of 7Y notes.

Keep reading...Show less