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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.
US TSYS
- Cash Tsys have bull flattened after the peak of the yesterday's sell-off in the middle of the Asia session was reversed having seen yields hit new cyclical highs across the curve and with the US 10Y getting close to 3% with 2.977%.
- Heightened levels and a view that inflation will peak this quarter saw BofA strategists go long 10Y USTs at 2.83%, targeting 2.25% with a stop at 3.10%.
- Putin saying Russia will continue its military operation in Ukraine has helped drive the day’s rally further.
- 2YY -4.3bps at 2.548%, 5YY -6.9bps at 2.848%, 10YY -7.7bps at 2.859%, 30YY -7.4bps at 2.921%.
- TYM2 is up 13 ticks at 119-16+ on solid volumes. It sits off the intraday low of 118-19+ that now forms initial support. A break there would open 118-02+ (0.618 proj of the Mar 7-28-31 price swing).
- Fedspeak: Daly (’24 voter), Evans (’23), Bostic (’23) all slated to speak with potential for non-scheduled appearances.
- Data: Existing home sales (1000ET) and Fed’s Beige Book (1400ET) likely the pick but weekly MBA mortgage apps also get a look to see the impact of mortgage rates moving higher.
- Bond issuance: US Tsy $16B 20Y Bond re-open (1300ET)
- Bill issuance: US Tsy $30B 119-Day bill auction (1130ET)
UST 2s10s and individual yieldsSource: Bloomberg
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.
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