Free Trial

MNI ASIA MARKETS ANALYSIS: Yields Higher After Weak Jobs Gain

HIGHLIGHTS

  • Treasuries look to finish near late session lows, reversing Friday morning's gap bid after lower than expected October jobs gain of +12k vs. +100k estimate.
  • Despite the reversal, curves held steeper all session, 2s10s +5.593 at 16.595 (vs. 7.660 low), reflecting decent gains in projected rate cuts in the next few Fed policy meetings.
  • Looking ahead, the US Presidential Election on Tuesday and the FOMC decision unusually on a Thursday are two major risk events in an otherwise light US calendar.


MNI US TSYS: Late Treasury Roundup: Ignoring Jobs Data, Yields Climb Ahead Election

Keep reading...Show less
1471 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

  • Treasuries look to finish near late session lows, reversing Friday morning's gap bid after lower than expected October jobs gain of +12k vs. +100k estimate.
  • Despite the reversal, curves held steeper all session, 2s10s +5.593 at 16.595 (vs. 7.660 low), reflecting decent gains in projected rate cuts in the next few Fed policy meetings.
  • Looking ahead, the US Presidential Election on Tuesday and the FOMC decision unusually on a Thursday are two major risk events in an otherwise light US calendar.


MNI US TSYS: Late Treasury Roundup: Ignoring Jobs Data, Yields Climb Ahead Election

Keep reading...Show less