Free Trial

The overnight repo market....>

US TSYS/OVERNIGHT REPO
US TSYS/OVERNIGHT REPO: The overnight repo market saw the 10-year Treasury note
continue to tighten Wednesday with the 10-year at -3.10% Wednesday vs. -2.40
Tuesday and -1.00% last Friday, said traders. They believed the action occurred
ahead of the 3/10/30-year auctions two weeks from now, (which auctions will be
announced this Thursday) but also amid some others needing to cover shorts, who
need such issues and will pay up amid "a repo squeeze," as one trader termed it.
- Meanwhile the 3-year note continued to tighten, trading at +0.69% vs. 0.90%
Tuesday. The five-year note meanwhile started tightening too now at 0.97%
Wednesday vs. 1.12% Tuesday. The Treasury General Collateral level traded at
1.10%, with current 2-year at 1.10%, 7-year at 1.05% and 30-year bond at 1.07%. 

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.