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MNI China Daily Summary: Thursday, November 02

NORGES BANK SAYS DECEMBER HIKE LIKELY, BUT MAY HOLD

MNI: NORGES BANK LEAVES KEY RATE UNCH AT 4.25%

MNI: EUROZONE OCT FINAL MANUF PMI 43.1 (FLASH 43.0); SEP 43.4

MNI: GERMANY FINAL OCT MANUF PMI 40.8 (FLASH 40.7); SEP 39.6

MNI: GERMANY OCT UNEMPLOYMENT RATE +5.8%

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Post Factory Orders, ISM Services React

US TSYS
BulletMarketsFixed Income NewsHomepage
  • Treasury futures scale back from early session highs after ISM Services Index came out near expectations (53.6 vs. 53.5 est, 54.5 prior). Factory Orders, on the other hand came out stronger than expected: +1.2% vs. 0.3% est, from -2.1% prior, Ex Trans (+1.4% vs. 0.2% est).
  • Current TYZ3 at 106-22.5 (+2) vs. 107-02.5 high, yield at 4.7768% (-.0187) after marking 4.7246% low recently. Curves mixed: 3M10Y -1.417 at -73.326, 2Y10Y +1.268 at -34.624.
  • Given this morning's bounce off cycle lows, continued reversal from here puts technical support focus at 106-00 (Round number support) followed by 105-27+ (3.0% Lower Bollinger Band).
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  • Treasury futures scale back from early session highs after ISM Services Index came out near expectations (53.6 vs. 53.5 est, 54.5 prior). Factory Orders, on the other hand came out stronger than expected: +1.2% vs. 0.3% est, from -2.1% prior, Ex Trans (+1.4% vs. 0.2% est).
  • Current TYZ3 at 106-22.5 (+2) vs. 107-02.5 high, yield at 4.7768% (-.0187) after marking 4.7246% low recently. Curves mixed: 3M10Y -1.417 at -73.326, 2Y10Y +1.268 at -34.624.
  • Given this morning's bounce off cycle lows, continued reversal from here puts technical support focus at 106-00 (Round number support) followed by 105-27+ (3.0% Lower Bollinger Band).