Free Trial

Nomura N.American head of rate...........>

US TSYS/2Y
US TSYS/2Y: Nomura N.American head of rate research George Goncalves and
analysts Penglu Zhao and Stanley Sun said on today's 1pm ET $26B 2Y note auction
that they are "slightly bearish" on the demand outlook. 
- They said 2Y auction advantages are that "front-end carry/rolls are still
attractive" and "valuations are certainly in the cheap range after the recent
sell-off both outright and on the curve."
- But they warn also that "foreign appetite for front-end has subsided.
Attractive dollar lending in FX basis trade may divert some flows from front-end
cash bond buying." And also, "upcoming T-bill issuance may also present
headwinds for the takedown," they added. 
- The WI 2Y note is at 1.598% rate currently.

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.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });