MNI: GERMANY FEB FLASH MANUF PMI 46.1 (FCST: 45.5); JAN 45.0

MNI BRIEF: UK Retail Sales Bounce Back From Weak Pre-Christmas

MNI: FRANCE FEB FLASH MANUF PMI 45.5 (FCST: 45.3); JAN 45.0

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI China Press Digest Feb 21: Consumption, Financing, Sino-EU

MNI: PBOC Net Injects CNY84 Bln via OMO Friday

MNI: FRANCE FEB MANUF SENTIMENT AT 97

MNI: UK JAN PSNCR GBP-22.48 BN

MNI: UK JAN RETAIL SALES +1.7% M/M, +1% Y/Y

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: Off Highs But 10s Still Hold FOMC Minutes Initial Gains

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Treasuries are off overnight highs seen in early London trade (with the pullback aided by WTI futures off lows) but 10s hold most of the rally seen on yesterday’s FOMC minutes with its surprising amount of balance sheet discussion.
  • Today’s macro focus is on jobless claims, covering the February payrolls reference period for initial, before Fedspeak.
  • Cash yields are 0.5bp lower (front end to belly) to 2.5bp higher (20s), with the latter underperforming after yesterday’s 20Y auction tailed by 1bp along with soft peripheral stats.
  • TYH5 has eased to 109-00 for back to just 1+ higher on the day after an earlier high of 109-04+, on light volumes of 250k.
  • Moving average studies point to a downtrend, with initial support at 108-04 (Feb 12 low) before 108-00 (Jan 16 low), whilst resistance is seen at the bull trigger of 110-00 (Feb 7 high).
  • Data: Weekly jobless claims (0830ET), Philly Fed mfg Feb (0830ET), Leading index Jan (1000ET)
  • Fedspeak: Goolsbee Q&A (0935ET), Musalem speaks to Economic Club of NY (1205ET, text + Q&A), Barr on supervision (1430ET, text + Q&A), Kugler on inflation and Phillips Curve (1700ET, text + Q&A).
  • Coupon issuance: US Tsy to sell $9bn 30Y TIPS - 912810UH9 (1300ET)
  • Bill issuance: US Tsy to sell $85bn 4-wk bills, $80bn 8-wk bills (1130ET)
212 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.
  • Treasuries are off overnight highs seen in early London trade (with the pullback aided by WTI futures off lows) but 10s hold most of the rally seen on yesterday’s FOMC minutes with its surprising amount of balance sheet discussion.
  • Today’s macro focus is on jobless claims, covering the February payrolls reference period for initial, before Fedspeak.
  • Cash yields are 0.5bp lower (front end to belly) to 2.5bp higher (20s), with the latter underperforming after yesterday’s 20Y auction tailed by 1bp along with soft peripheral stats.
  • TYH5 has eased to 109-00 for back to just 1+ higher on the day after an earlier high of 109-04+, on light volumes of 250k.
  • Moving average studies point to a downtrend, with initial support at 108-04 (Feb 12 low) before 108-00 (Jan 16 low), whilst resistance is seen at the bull trigger of 110-00 (Feb 7 high).
  • Data: Weekly jobless claims (0830ET), Philly Fed mfg Feb (0830ET), Leading index Jan (1000ET)
  • Fedspeak: Goolsbee Q&A (0935ET), Musalem speaks to Economic Club of NY (1205ET, text + Q&A), Barr on supervision (1430ET, text + Q&A), Kugler on inflation and Phillips Curve (1700ET, text + Q&A).
  • Coupon issuance: US Tsy to sell $9bn 30Y TIPS - 912810UH9 (1300ET)
  • Bill issuance: US Tsy to sell $85bn 4-wk bills, $80bn 8-wk bills (1130ET)