Free Trial

Risk-off sharply reversed to........>

US TSYS SUMMARY
US TSYS SUMMARY: Risk-off sharply reversed to risk-on this morning (0406ET) on a
BBG sources piece citing 'people` close to talks that US-China are moving closer
on tariff roll-backs on phase one deal, with US side expecting agreement before
tariffs set to rise on Dec 15.
- Little else of note (House vote re Xinjiang had been exp.) but BBG piece was
more than enough to sink Tsys following Tuesday's rally. 10-Yr futures picking
up from lows but TY down 7/32 at 129-26 (L: 129-21 / H: 130-03.5). 
- Curve bear steepening: 2-Yr yield is up 0.8bps at 1.5461%, 5-Yr is up 1.6bps
at 1.5588%, 10-Yr is up 1.7bps at 1.7328%, and 30-Yr is up 2.1bps at 2.1844%.
- Data highlight is ISM Non-Manufacturing (1000ET); ADP employment (0815ET) of
possible interest ahead of Friday`s NFPs; final Markit PMIs at 0945ET.
- Fed VC Quarles testifies on `Supervision and Regulation` before House
Financial Services Committee at 1000ET (text released).

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.