Free Trial

Profit Taking After A Massive Post-FOMC Rally

US TSYS

TYH4 is trading at 112-10+, -0-06 from NY closing levels.

  • Cash US tsys are dealing 3-4bps cheaper in today's Asia-Pac session.
  • So far today, there has been no noteworthy news flow.
  • Considering the market is currently priced for 130bps of easing by November 2024, compared to the dot plot median easing of 75bps for 2024, local participants may perceive the market as overbought.
  • Consequently, the early weakness observed today seems to be driven more by profit-taking following an assertive post-FOMC rally.

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.