Free Trial

Treasuries ended Mon weaker after......>

US TSY/RECAP
US TSY/RECAP: Treasuries ended Mon weaker after mildly hawkish NY Fed Dudley
pushed market lower, with two-way flows and mild dip buying seen later in the
session. Dudley in AP interview said favored 3rd US rate hike in 2017; expects
somewhat higher inflation readings M/M, adding that S/T rates "pretty low." 
- Tsys opened NY weaker after overnight give-back of Friday safe-haven
pre-weekend buying amid N.Korea/US tensions. When geopolitics calm in weekend,
accounts unwound such safe-haven buys but carefully as N.Korea still event risk.
US real$ arose in front end Tsys, while others did dip buying in Tsys 7Y, 10Ys. 
- Cash Tsys: Toll from May '27 10Y to Aug '27 10Y, before Tue 3/10/30Y auction
settlement. FX-tied buying near 10:19am ET & later as USD/JPY weak. Fast money
did steepeners against 30's. O/N Repo: Tsy 2Y note tight. Tsy Futures: Sep/Dec
Tsy futures roll gets under way (only 1-2% Sept OI rolled so far.) Fed Funds
futures was decent block buy of 6,000 FFQ at 98.845 at 11:57am ET.
- Bill yields fell as the the Treasury cut auction sizes for this week in order
to avoid breaching the debt limit.
- T-Notes open Asia at 126.17+, 10-Year yield last 2.218%

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.