Free Trial

Return from Independence day........>

US TSYS SUMMARY: Return from Independence day holiday, Tsys looking weaker,
risk-on w/equities higher and in-lone w/higher US$/Yen, decent futures volume
(TYU>390k), mkts await ADP private jobs data at 0815ET, FOMC minutes 1400ET
w/others sidelined ahead Fri's NFP and $34B China tariff deadline.
- US$ index little softer (DXY -0.240 to 94.291; US$/Yen +.17 110.67); equities
strong (emini +21.0, 2734.25); gold softer (XAU -1.35 1253.31); West Texas crude
mildly higher (WTI +.47, 74.61) after tapping 75.27 Tuesday -- highest level
since late 2014.
- Asia, quiet start on light volume, pick-up in selling heading into the London
cross as US$/Yen climbed. London hours saw carry-over selling across curve,
Japanese accts buying long end, prop and real$ selling 5s and 7s.
- Swap spds rotating around steady, light flow w/reports of Asian acct paying in
the wings earlier; more recent rate paying 3s at 2.87625%, 2s5s flattener on
modest size.
- Tsy cash/ylds: 2Y 99-28.87 (2.549%), 5Y 99-13 (2.752%), 10Y 100-03 (2.862%),
30Y 102-22 (2.987%).

To read the full story



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.