Free Trial

Rates trading weaker all day on.....>

US TSYS SUMMARY
US TSYS SUMMARY: Rates trading weaker all day on the back of strong US$ (DXY
index +.610, 92.451 vs. 92.566 high; US$/Yen near session high late at 109.840).
FI trade exceptionally quiet/low volume (TYM <680k) with much of Asia and
European markets closed for extended spring holidays.
- Equitys rebounds late (emini -3.0, 2644.0 vs. 2623.25L); gold weaker (XAU
-9.55, 1305.80); West Texas crude weaker (WTI -1.08, 67.49).
- Day one of two day FOMC policy meeting, no fireworks expected. However, latest
MNI PINCH OIS-based model shows May rate hike probability has crept up to 10.0%
today (traders fading); Focus remains on June as the next FOMC rate hike (100%
priced in according to MNI PINCH).
- No react to data, Tsys held lows post ISM, const spending data. DBRS confirmed
US rating at AAA, trend stable. Accts sidelined ahead Tsy refunding 0830ET Wed,
FOMC annc 1400ET Wed, April NFP 0830ET Fri
- Modest FI option trade/mixed flow, modest corporate issuance, waiting for
details on Lloyds 3Y fix/FRN, 7Y fix.
- Tsy ylds: 2Y 2.504%, 3Y 2.646%, 5Y 2.814%, 7Y 2.927%, 10Y 2.968%, 30Y 3.131%

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.