Free Trial

Treasuries ended Mon lower..........>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries ended Mon lower (except 30Y) and flatter, pressured
by heavy US$ high-grade corporate debt issuance and by weaker German Bunds. Tsys
had modest 2way flow with overnight carryover bid/support evaporating in NY
morning, then pared gains and mirrored the German Bunds' drop. FX-tied Tsy sales
as US$ rebounded vs Jpn yen, with modest deal-tied sales/hedges. Two-way option
flows occurred. 
- US swaps: light fast$ receiving 2Y, 5Y, while bank and insurance portfolio
payers in 10Ys. Tsy flatteners in cash 2/10Y, 2/30Y, 3/30Y, 5/30Y.
- Talk late morning US Tsys bond swap: $500M from Feb. 2041 Tsy 30Y bond area to
Nov. 2043 30Y bonds, unusually active for 2014 area; that amid expectation of
more flattening. - Block sale of 6,000 Tsy 5Y futures (FVZ) at 11:22am ET at
116.29.5 (sell-thru); also was large Bund futures block: apparent sale of 5,079
RXZ7 at 162.30 at 1:29pm ET GMT and of 6,433 at same time, price; 
- Eurodlr futures: Block buy 1,000 EDH8 1yr bundle at 12:52pm ET; block trade
9:30am- 9:32am ET: buy 7,000 EDH8 at 98.31, sale of EDM8 at 98.18. TSYS 3PM ET:
2y 1.687%, 3Y 1.817%, 5Y 2.073%, 7Y 2.272%, 10Y 2.402%, 30Y 2.869%

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.