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Free Access***Treasuries had whipsaw day so far:.......>
US TSYS: ***Treasuries had whipsaw day so far: Initial rally on soft Aug. jobs
report on short-covering and outright buying in Tsys, then brief light
profit-taking at the highs. Then brisk selling as BBG ECB story said ECB won't
have its bond-buying taper plan ready until Dec. ECB meeting, which is arguably
risk-friendly news, so Tsys hurt as US stocks and European stocks gain in
risk-on mood. Tsys then slid lower still on strong 58.8 ISM Purchasing Managers
Index with more selling.
- Tsys futures had an 8:31am ET block sale of 6,700 TYZ at 127-04, through a
-04.5 bid at post time; Tsys 10Y futures had about 105K TYZ bought from
8:30am-8:30am ET with VWAP at 127-05.5.
- Cash Tsys 5/30Y curve saw two-way flows, most recently profit-taking on the
earlier steepeners. - Eurodlr futures had a sale of 20,000 Dec'17 at 98.575 to
-0.57, partially tied to Sep/Dec buy at 0.100.
- US$ high grade corporate bond issuance is quiet today; but syndicates are
working hard to ready on a flood on new issuance for September.
To read the full story
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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.