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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.
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T-Notes begin the Asia session lower...>
US TSY/RECAP: T-Notes begin the Asia session lower after declining on the
overnight, last at 125.06, 10-Year yield last at 2.334%
- US Tsys ended Wed weaker after digesting a strong $23B 10Y auction (2.314%
rate, strong 68% indirects, good 9.04% directs) so only small 23% left for
dealers. Tsys traded quietly as we await more details on House and Senate US tax
plans; Senate panel to start hashing out plan with members 11:30am ET Thurs;
House tax writers still at work for 3rd day Wed tweaking tax plan.
- Tsys opened mildly lower with long end off overnight lows, resisting rally in
Bunds and Gilts in afternoon UK; weaker US$ vs. Yen that typically supports
Tsys. Little/no react to 2nd tier data. Tsys lifted mildly off lows after 10Y
sale.
- Morning muted Japanese selling in Tsy intermeds, quiet 2way flows from misc US
accts, mild 2/10Y, 2/30Y, 5/30Y steepeners. 2way corp deal-tied flow and auction
tied hedging/unwinds. Muted volume in Dec/Mar Tsy rolls. Also downside put
buying, rate hike insurance covering 1H 2018.
- US SWAPS: Tighter after mixed open, curve extends Tues steepening.
To read the full story
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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.