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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.
US TSYS
- Cash Tsys trade with a notable bear steepening, with the front end seeing an intraday rally back closer to pre-FOMC minutes levels but the long end extending pressure after the largest tail for a 20Y JGB auction since 1987. It’s against a backdrop of China state bank USD sales stories from first Reuters and more recently Bloomberg.
- Of note, the 10Y yield session high of 4.3098% came close to Oct’22’s 4.3354% for what is otherwise the highest since 2008, whilst 2s10s steepen to -65bps for the least inverted since May.
- 2YY -0.2bp at 4.963%, 5YY +2.7bp at 4.430%, 10YY +5.5bp at 4.306% and 30YY +6.7bps.
- TYU3 trades 8+ ticks lower at 109-09+ having notched a fresh cycle low of 109-05+, next signalling scope for a major support at 108-26+ (Oct 21, 2022 cont). Volumes are far above average at a cumulative 410k.
- Data: Weekly jobless claims (0830ET), Philly Fed Mfg Aug (0830ET) and Conf Board Leading Index Jul (1000ET)
- Bill issuance: US Tsy $80B 4W, $70B 8W bill auctions (1130ET)
Source: Bloomberg
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.
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