Free Trial

Pre-FOMC Coil

US TSYS

T-Notes sticking to a 0-02 range since the re-open, last +0-01 at 139-17.

  • Tsys continued to hold to relatively narrow ranges on Tuesday, with the curve going out modestly steeper as yields cheapened at the margins come the bell. Volume was light ahead of Wednesday's FOMC decision (see our full preview for further colour on that matter), although IG $ issuance helped on that front, providing hedging related flow.
  • 20-Year Tsy supply stopped through WI by 0.5bp, as the cover ratio edged up, moving back towards the average, while direct participation firmed. This allowed the space to correct from lows, with a pullback from best levels for equity markets also helping.
  • Eurodollar futures +1.0 to -0.5 through the reds.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.