Free Trial

Treasuries ended Friday broadly........>

US TSY/RECAP
US TSY/RECAP: Treasuries ended Friday broadly lower, pressured cross-market by
selling in EGBs going on Wed-Thurs. Traders cited talk of Mideastern selling in
various assets, which arose since Sunday S.Arabian crackdown on alleged corrupt
officials that startled the kingdom. Traders cited unease on Lebanon and Iran as
Saudi move changed power balance. 
- US rates again tied to weaker Bunds/Gilts. Talk of Mideast seller across
assets with asset shuffling hitting rates, equities, metals, oil resilient.
Traders also cited other foreign sellers in Tsys and "broad" selling by US
accts. Tsys had flattener unwinds, program acct and technical sales in
intermeds, carryover sales long end from bank, insurers, real$ and prop acct
buying 10s and 30s late morning. Light Dec/Mar Tsy futures roll volume. 
- Tsys flows quieted after UK close. UK Gilts slid; German Bunds had large
futures-led sales. Global stocks weighed: US Sen tax bill might delay 20% corp
tax rate until 2019. Tsy futures had 5,000 block crossed on bid at 124-22.5.
- Curve steepened for 2nd second, 5/30-Year spread 2.2bp wider at 82.5bp.
- T-Notes open Asia at 124.21+, 10-Year yield last 2.398%

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.