Free Trial

Strong Risk-Off

US TSYS SUMMARY

Stimulus, pharma and tech company related headlines remain key driver for risk-of bid in rates, weaker equities (US$/Yen bounce contributing factor (105.55H).

  • Mkt on edge after House Majority Leader Hoyer on MSNBC said Speaker Pelosi and Tsy Sec Mnuchin "want to make a deal" but added Pres Trump is "erratic, impulsive on talks". Sen Majority Leader McConnell said wanted vote on $500B targeted relief package sometime next week. Latest counter offer rejected by House Speaker Pelosi and Democrats.
  • Pharmaceutical co. Eli Lilly following J&J, halting antibody trial on potential safety concerns, equities falling to new session lows.
  • Equities extended session lows on back of earlier Apple headline: "CHINESE PLATFORMS CANCELED APPLE LIVESTREAM, NO REASON GIVEN," Bbg, platforms: Bilibili, Iqiyi, Tencent and Weibo.
  • The 2-Yr yield is down 1.4bps at 0.139%, 5-Yr is down 3.5bps at 0.3024%, 10-Yr is down 4.8bps at 0.7256%, and 30-Yr is down 6.2bps at 1.5094%.

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.