Free Trial

T-Notes Tight After Thursday's Flattening

US TSYS

T-Notes last print -0-01 at 139-17, holding a tight range after edging away from best levels during NY trade, with the curve bull flattening on the day.

  • Soft U.S. data fed into the flattening narrative, while the recent run of inflation pricing and the easy does it messaging from Wednesday's Fed minutes resulted in a tail of over 5.0bp vs. WI in the latest 30-Year TIPS auction, with the takedown metrics and cover ratio softer than recent averages.
  • Flow was dominated by a TY/UXY steepener.
  • A Johnson & Johnson 6-parter headlined the corporate issuance slate on Thursday.
  • Little in the way of true tier 1 risk events scheduled in Asia-Pac hours.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.