MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Risk-On

US TSY FUTURES CLOSE

General risk-on tone Monday, trading desks citing decent Eurozone PMI numbers and bid for US$ in early trade, dollar support waned in second half. Late bounce off lows after US Tsy expects to borrow $947B during Q3 2020, reflecting relief payouts and lower tax revenue amid the Covid-19 pandemic.

  • Tsy futures extended overnight lows ahead NY open -- minutes prior to word of Alphabet intention to issue $10B 6-part debt (not to mention AstraZeneca and Fannie Mae), fast$, prop acct sold ahead rate locks.
  • Underscoring pressure in rates: ISM Mfg PMI showed the third successive increase in Jul, rising by 1.6pt to 54.2, highest level since Mar 2019 and beating expectations (BBG: 53.6).
  • Quite a bit early before Dec takes Sep as lead quarterly Tsy future, but roll already getting underway.
  • The 2-Yr yield is up 0.4bps at 0.1093%, 5-Yr is up 1.1bps at 0.2153%, 10-Yr is up 2.1bps at 0.5494%, and 30-Yr is up 3.7bps at 1.2299%.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.