Free Trial

Nerves remain fraught over the......>

US TSYS SUMMARY
US TSYS SUMMARY: Nerves remain fraught over the spread of the coronavirus,
continuing to propel the risk-off bid into Tsys on Tuesday.
- Futures popped to session highs around 0400ET as markets caught up with
headlines that Hong Kong was severely restricting travel w mainland China, and
reports of possible spread of the virus via human contact in Germany/Japan.
- We've come off best levels but markets remain on edge. 10-Yr yields touched
1.5685% (lowest since Oct 10); 3M/10Yr spread flirting w inversion.
- The 2-Yr yield is down 2.8bps at 1.4128%, 5-Yr is down 2.1bps at 1.4205%,
10-Yr is down 1.9bps at 1.5891%, and 30-Yr is down 1.8bps at 2.0385%.
- Mar 10-Yr futures (TY) up 4.5/32 at 131-01 (L: 130-24 / H: 131-06); fairly
elevated volume again, at 555k (as of 0615ET).
- Durable goods report at 0830ET bears watching; Conference Board confidence and
Richmond Fed at 1000ET also of note.
- 1130ET sees $20bln 2Y FRN sale; 7Y $32bln sale at 1300ET.
- Also worth watching Apple results/guidance after market close.
- MNI's FOMC preview went out yesterday, contact us for a copy.

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.