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Free AccessTreasuries are retracing some of....>
US TSYS SUMMARY: Treasuries are retracing some of Thursday`s sharp gains, as we
head into the Memorial Day holiday weekend.
- Jun 10-Yr futures (TY) down 9.5/32 at 124-29 (L: 124-27 / H: 125-00.5).
- Overnight, Tsys pulled back from best levels ahead of the close after rallying
hard for most of Thursday's session. U.S. President Trump noted that he expects
a "quick" trade deal with China, triggering a breather in futures.
- S&P E-mini has recovered about half Thursday`s losses (last up 0.7%), helping
keep downside pressure on Treasuries.
- Bit of curve bear flattening: 2-Yr yield up 1.8bps at 2.1641%, 5-Yr up 1bps at
2.1239%, 10-Yr up 0.9bps at 2.3273%, and 30-Yr up 0.5bps at 2.7587%.
- Our Tech analysts note the bullish picture for TY remains firmly intact with
the focus on the 125-07 level (Thurs's high).
- Eurodollar strip a little softer in Reds, but merely retracing some of
Thursday`s gains, and curve remains inverted (EDM9-EDM0: -0.485%).
- Data today includes Apr durable goods and St Louis/NY Fed GDP Q2 Nowcasts.
- Reminder of early market close Friday (1300ET), and Monday close.
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.