Free Trial

Treasuries ended the overnight.........>

US TSY/RECAP
US TSY/RECAP: Treasuries ended the overnight session mainly higher, except
30-Year after a rangebound afternoon followed morning short-covering, black-box
tied buys, technical buying. Tsys began NY mixed, steepener after overnight
two-way flows tilted toward selling. 
- Data: weaker 49.7 US ISM-NY Current Conditions Index; 4.7M annualized Sept. N.
American car sales and 9.6M annualized N. American truck sales - But then Tsys
rose as some accounts covered shorts, amid JPM All-Clients Tsy Client survey
saying shorts this week at 44%, most since May 2006. US government bonds had
technical buying as cash 10-Year note yield declined below 2.35%.
- Black boxes bought Tsys in morning as USD receded vs JPY. Tsys saw 2/30Y,
3/30Y, 5/30Y steepeners. Earlier NY mixed flow by foreign accounts and mild USD
real money profit-taking. - US SWAPS: Spreads mostly tighter by close bell,
curve flatter vs. steeper Tsy curve; $100M receiver in 5Y US$ swaps at 1.999%,
$110M 10Y receiver at 2.2875%.
- U.S Tsys opened Asia at 125-13, now down at 125-11+, 10-Year yield last at
2.323.

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.