Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

SocGen's Shakeeb Hulikatti on........>

US TSYS/SUPPLY
US TSYS/SUPPLY: SocGen's Shakeeb Hulikatti on today's 11:30am ET $24B 3Y auction
that "the 3-year sector does not appear to have a clear setup for today's
auction from a relative-value perspective, with the current 3s trading fair on
asset swap and on the curve."
- He added that "other (auction) negatives include tails in two of the last
three auctions and the crowded calendar, with the 10y auction at 1pm ET and the
proximity to November's CPI print and the FOMC meeting."
- But he adds the 3-year note auction "will likely benefit from cheap outright
valuation, as the sector has cheapened by around 15bp since the last auction,
with the 3y benchmark yield now trading above the auction stops since April 2010
and dealers increasing their shorts in the sector."

To read the full story

Why Subscribe to

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.