Free Trial

Rates weaker all day, futures near.....>

US TSY FLOWS
US TSY FLOWS: Rates weaker all day, futures near second half lows by the bell
albeit on modest volumes, TYZ just over 1M. Post Sep FOMC minutes react: muted
with brief risk-on unwind before rates shifted lower again on back of stronger
equities.
- US/China trade headlines (soybean purchases, China open to partial trade deal
despite tech blacklist) spurred risk-on move coming into the session. Nascent
chatter over "partial" trade deal helped keep risk-on momentum rolling after
midday. Rates also partially pressured by corporate ($10.065B/day) and Tsy
supply related hedging.
- Right on the screws, latest US Tsy $24B 10Y note auction (912828YB0) awarded
1.590% rate (1.739% in September) vs. 1.590% WI; 2.43 bid/cover (2.46 previous).
- Not much of a lasting react to Sep FOMC minutes, economic outlook evolves
w/some Fed officials think expectations for cuts are overdone.
- The 2-Yr yield is up 4.6bps at 1.4657%, 5-Yr is up 4.9bps at 1.4004%, 10-Yr is
up 5.1bps at 1.5802%, and 30-Yr is up 5.1bps at 2.08%.

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.