MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +22 BCF TO 3,231 BCF JUL 19 WK

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Steadily Richer Ahead Of Payrolls

US TSYS
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsJPMorgan Market News
  • Cash Treasuries trade firmer after Independence Day, steadily rallying since the Asia open with the front end pushing towards Wednesday’s highs and the longer end through respective highs.
  • Cash yields sit 2-3bp lower, led by the belly, whilst 2s10s at -34.6bps broadly consolidates Wednesday's flattening having previously lurched 23bp higher in the space of a week to -27.4bps
  • TYU4 has climbed to 110-04 to match Wednesday’s high, where it's met some resistance ahead of payrolls. Initial firm resistance is seen at 110-16 (Jun 28 high) but the bear threat is still present with support at 109-02+ (Jul 1 low) just above the key support at 109-00+ (Jun 10 low).
  • J.P.Morgan warn that Tsy yield reaction to NFP surprises during the July 4 week are around 90% larger than what is seen on a typical NFP Friday (based on historical data, assessing fixed magnitudes of surprise), best explained by liquidity impairment.
  • Data: Payrolls (0830ET) – see the MNI Preview here.
  • Fedspeak: Monetary Policy Report (historically 1100ET)
161 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.
  • Cash Treasuries trade firmer after Independence Day, steadily rallying since the Asia open with the front end pushing towards Wednesday’s highs and the longer end through respective highs.
  • Cash yields sit 2-3bp lower, led by the belly, whilst 2s10s at -34.6bps broadly consolidates Wednesday's flattening having previously lurched 23bp higher in the space of a week to -27.4bps
  • TYU4 has climbed to 110-04 to match Wednesday’s high, where it's met some resistance ahead of payrolls. Initial firm resistance is seen at 110-16 (Jun 28 high) but the bear threat is still present with support at 109-02+ (Jul 1 low) just above the key support at 109-00+ (Jun 10 low).
  • J.P.Morgan warn that Tsy yield reaction to NFP surprises during the July 4 week are around 90% larger than what is seen on a typical NFP Friday (based on historical data, assessing fixed magnitudes of surprise), best explained by liquidity impairment.
  • Data: Payrolls (0830ET) – see the MNI Preview here.
  • Fedspeak: Monetary Policy Report (historically 1100ET)