MNI INTERVIEW2: Germany Faces Stagnation -Former Experts Chair

MNI BRIEF: Smaller Firms Split Over Wage Hikes - BOJ Report

MNI BRIEF: Majority Of Regions Cut Economic View - BOJ

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI China Daily Summary: Wednesday, April 3

MNI: EUROZONE FEB PPI -1% M/M, -8.3% Y/Y

BOE DMP details look soft

Impressive Services PMI Helps Push Eurozone Back Into Growth

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Treasuries Flatten Further Into Extremely Light US Docket

US TSYS
  • Cash Tsys have bull flattened overnight as levels see a partial retracement of Friday's substantial post-payrolls sell-off, helped in part by a dampening in risk with China announcing its intentions to conduct "regular" drills near Taiwan before a limited European morning aside from a small beat in Sentix Investor confidence.
  • Continued hawkish Fedspeak over the weekend (see separate bullet) keeps front-loaded hike expectations at the forefront of market attention and with it 2s10s only just off fresh post-2000 flats seen on the immediate reaction to a storming payrolls report at -41bps vs -44bps, with TD not ruling out -80bps in their payrolls review as the long-end pencils in a greater likelihood of a downturn.
  • 2YY -1.2bps at 3.214%, 5YY -2.2bps at 2.932%, 10YY -2.9bps at 2.799% and 30YY -3.0bps at 3.037%.
  • TYU2 trades 9 ticks higher at 119-21 as it moves off Friday's low of 119-07+ and with support at the 50-day EMA just below at 119-05+. Resistance is seen at 120-29 (Aug 4 high). Volumes are low but typically so for this time of year.
  • No data or scheduled Fedpseak on an empty docket aside from bill issuance with US Tsy $54B 13W, $42B 26W bill auctions at 1130ET.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.