MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

No Where Near Overnight Levels

US TSYS
Carry-over reflation theme from last week weighed on Treasury futures overnight, pushing yields to new 1Y highs (10YY 1.3925%; 30YY 2.1860%) yield curves climbing to new 5+ year highs briefly (5s30s 157.445, triple top from 2015).
  • Opinion from some trading desks the sell-off in futures was a bit overdone late last week (10YY +15bp last week, 2.15625%H Fri) took hold as US desks logged in. "The question of when higher rates start to impact equities has been moved to the top of the list," one desk offered.
  • Tsys bounced hard ahead the NY open -- little volume associated with the rally (overall volumes rather high due to surge in March/June rolling: half the 1.1M FVH volume tied to spd vs. June, ahead first notice Friday), while the large TYH block buy (15,435 at 135-13) added impetus to the move after the bell. Sporadic nature of the bid evident as flurry of selling from fast$ and prop accts knocking Tsys back to early overnight levels.
  • Additional early session flow: decent option-tied hedging vs. large 10Y puts trade, pick-up in deal-tied hedging and swap-tied selling in the short-end (2s-5s)
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.