Free Trial

Trading Weaker Ahead Of 20-Yr Supply

US TSYS SUMMARY

Tsys have given back a bit of Tuesday's gains in early European trade Wednesday with some modest curve steepening, albeit within a fairly narrow range. Little in the way of newsflow drivers, with most attention on 20-Yr auction today.

  • Jun 10-Yr futures (TY) down 2/32 at 132-16 (L: 132-13 / H: 132-19.5). The 2-Yr yield is up 0.2bps at 0.1512%, 5-Yr is up 0.8bps at 0.8001%, 10-Yr is up 1.3bps at 1.5714%, and 30-Yr is up 1.5bps at 2.2665%.
  • Equities are flat/lower, holding some ground after losses earlier in the week; dollar trading a little stronger.
  • With no key data or speakers, supply is the focus of the session. At 1130ET we get $35B 119D-Bill auction, with the highlight being $24B 20Y Bond sale at 1300ET.
  • NY Fed buys ~$1.750B of 20Y-30Y Tsys.

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.