FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Strong Stocks, Rebound for Oil Weighs on Tsys

US TSYS
No data Monday (Fed in blackout), geopolitical tension between Russia and US over Ukraine ahead Tue's remote conf between Pres's Biden and Putin, did little to stem the apparent risk-on tone.
  • Rates extended session lows from the noon hour, near lows on moderate overall volumes (TYH2 just over 1.1M after the bell), short end yield curves steepened. Equities climbed (ESZ1 +60.0 to 4597.0 late), WTI crude crested 70.0, gold off 4.20 to 1779.09 late).
  • Of note, 2Y/10Y Ultra curve steepener blocked in first half: +14,000 TUH2 109-06, buy through 109-05.75 post-time offer at 1012:25ET vs. -4,700 UXYH2 147-22, sell-through 147-22.5 post-time bid, off the CME's 4:1 spd ratio for the pair.
  • Likely to ebb later in the week, Monday's total corporate debt issuance was robust, $6B Roche helped lead total high-grade debt issuance to $17B.
  • Tuesday focus: Unit Labor Costs (8.3% est), Trade Balance (-$66.9B vs. -$80.9B prior)
  • The 2-Yr yield is up 4.2bps at 0.6292%, 5-Yr is up 7.9bps at 1.2111%, 10-Yr is up 9.5bps at 1.4376%, and 30-Yr is up 8.8bps at 1.7611%.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.