register nowRegister now
BTP TECHS

(M1) Bearish Risk

GILT TECHS

(M1) 129.27 Resistance Holding

SCHATZ TECHS

(M1) Consolidating

BOBL TECHS

(M1) Bearish Focus

BUND TECHS

(M1) Bearish Engulfing Still In Play

US TSYS SUMMARY
US TSYS SUMMARY: Mostly higher/curves flatter, choppy ahead Fri's May NFP (+194k
est). Limited data reacts, rates continue to react to Italian bond & political
headlines and US$ moves. Shorts press on increased rate hike chances past Jun.
- Tsys opened weaker on day two of relief for Italian bonds (2Y vs. Bunds -44.1,
5Y -31.1); traded higher midmorning as US$/Yen slips lower (-.24, 108.67) while
Italian bonds vs. Bunds are moving off lows (10Y near steady). Tsy bid
evaporated midday on headline "FIVE STAR, LEAGUE AGREE ON GOVT TEAM" Bbg w/10YY
back over 2.8622%. Midday flow: fast$, program sellers chased bids before they
were cancelled on the Italy headline induced sale. Long end rebounding last
couple minutes, real$ +30s. Curve flatteners, steepener unwinds in in 2s and 5s
vs. 10s and 30s. Cautious positioning ahead Fri's May NFP.
- USD index lower late (DXY -.101, 93.968; US$ vs. Yen -0.25, 108.65); stocks
weaker (emini -16.5, 2708.0); gold softer (XAU -.56, 1300.84); West Texas crude
weaker (WTI -1.11 to 67.10). Fed Brainard takeaway: hawkish
- Tsy cash/ylds: 2Y 100-05.2 (2.411%), 5Y 100-12 (2.668%), 10Y 100-12.5
(2.828%), 30Y 102-19 (2.992%).