MNI BRIEF: Canada PM Carney Derides Trump's 51st State Idea

MNI BRIEF: Carney Sworn In As PM, Names Champagne To Finance

MNI China Daily Summary: Friday, March 14

MNI BRIEF: China February M2 Stays At 7% Y/Y

RPT-MNI INTERVIEW2: Lag Justifies Faster CNB Easing - Holub

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: Slowly Paring CPI Losses, PPI and Claims Ahead

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Treasuries have seen a marginal bid on Trump talking about reciprocal tariffs coming today (had already been growing expectation there could be an announcement with Executive Orders at 1pm ET) along with a good possibility of ending the Russia-Ukraine war.
  • It’s limited though, with the front-end still within session ranges whilst the longer end briefly pushed to fresh highs to pare around half of yesterday’s CPI-induced losses. Most of the day’s move came earlier in Asia hours.  
  • Cash yields are 2-3bp lower, with declines led by 30s despite today’s 30Y supply and yesterday’s 10Y seeing a 1bp tail.  
  • TYH5 has lifted to 108-16+ (08) on modest volumes of 345k, taking it further away from the post-CPI low of 108-04.
  • Yesterday’s low cleared support to open 108-00 (Jan 16 low) after which lies the bear trigger 107-06 (Jan 13 low). To the upside, in case of any dovish cues from PPI or jobless claims, resistance at 109-08+ (50-day EMA).
  • JPM late yesterday recommended adding tactical longs in 2Y Treasuries, with the front end offering value “especially with 2-year yields now bumping up against the top of what has been a very well entrenched range”. The biggest risk is from labor market strength but the next employment reading is three weeks away.
  • Data: PPI Jan, incl annual revisions (0830ET), Weekly jobless claims (0830ET)
  • Fedspeak: None scheduled
  • Coupon issuance: US Tsy $25B 30Y Bond auction - 912810UH9 (1300ET)
  • Bill issuance: US Tsy $90B 4W, $85B 8W Bill auctions (1130ET)
243 words

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.
  • Treasuries have seen a marginal bid on Trump talking about reciprocal tariffs coming today (had already been growing expectation there could be an announcement with Executive Orders at 1pm ET) along with a good possibility of ending the Russia-Ukraine war.
  • It’s limited though, with the front-end still within session ranges whilst the longer end briefly pushed to fresh highs to pare around half of yesterday’s CPI-induced losses. Most of the day’s move came earlier in Asia hours.  
  • Cash yields are 2-3bp lower, with declines led by 30s despite today’s 30Y supply and yesterday’s 10Y seeing a 1bp tail.  
  • TYH5 has lifted to 108-16+ (08) on modest volumes of 345k, taking it further away from the post-CPI low of 108-04.
  • Yesterday’s low cleared support to open 108-00 (Jan 16 low) after which lies the bear trigger 107-06 (Jan 13 low). To the upside, in case of any dovish cues from PPI or jobless claims, resistance at 109-08+ (50-day EMA).
  • JPM late yesterday recommended adding tactical longs in 2Y Treasuries, with the front end offering value “especially with 2-year yields now bumping up against the top of what has been a very well entrenched range”. The biggest risk is from labor market strength but the next employment reading is three weeks away.
  • Data: PPI Jan, incl annual revisions (0830ET), Weekly jobless claims (0830ET)
  • Fedspeak: None scheduled
  • Coupon issuance: US Tsy $25B 30Y Bond auction - 912810UH9 (1300ET)
  • Bill issuance: US Tsy $90B 4W, $85B 8W Bill auctions (1130ET)