MNI: US TSY: LOWERS Q3 BORROWING ESTIMATE BY $106B TO $740B

MNI BRIEF: US Treasury Lowers Q3 Borrowing Estimate By $106B

MNI BRIEF: New Powers For UK Fiscal Body As Spending Overshot

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Off Lows Ahead Wed's FOMC

US TSYS SUMMARY

Weaker across the board after the bell, but well off early session lows.

  • Long end rebounded/extended session highs after the Tsy $22B 20Y Bond auction R/O traded through by 4bp: awarded 1.213% (1.185% in Aug) vs. 1.217% WI, on a bid/cover 2.39 vs. 2.26 previous. Indirects drew 60.70% vs. 62.60% prior, directs 15.30% vs. 11.20% prior, dealers took down 24.0% vs. 26.2%.
  • Long end scaled back support in choppy post-auction trade, but managed to extend past post auction highs after the bell.
  • Note, exceptionally light volumes w/TYZ<675k after the bell.
  • Aside from two-way position squaring, high-grade corp issuance continued apace, generating decent hedging volumes in 3s-10s.
  • Despite bound in 3M LIBOR this morning (3 Month +0.00888 to 0.24613%, -0.00420/wk), lead quarterly EDZ0 traded 0.005 higher on decent volume (126k).
  • The 2-Yr yield is unchanged at 0.137%, 5-Yr is up 0.3bps at 0.2675%, 10-Yr is up 0.5bps at 0.6772%, and 30-Yr is up 1.9bps at 1.4304%.
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.