Free Trial

Treasuries have maintained the......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries have maintained the post-FOMC rally in the European
morning though are off best levels. Equities continue to correct (S&P futs
-1.7%) as concerns over COVID cases in the U.S. surface.
- Flattening continues, against risk-off backdrop: 2-Yr yield is up 0.6bps at
0.1728%, 5-Yr is down 0.3bps at 0.3119%, 10-Yr is down 2.6bps at 0.7001%, and
30-Yr is down 3.8bps at 1.4681%.
- Sep 10-Yr futures (TY) up 9.5/32 at 138-25 (L: 138-19.5 / H: 138-29)
- We'll publish our full FOMC review in the next couple of hours. Sell side
notes have been pretty consistent labelling the meeting "dovish", esp Powell's
comments about not even thinking about thinking of raising rates. But mixed
thoughts on what it means for yield curve control decision, etc.
- Initial jobless claims at 0830ET is the data highlight (May PPI same time).
- $19bln 30-Yr Tsy sale at 1300ET headlines the supply docket, while $130bln in
4-/8-week bills for sale too. NYFed buys $4bln in Tsys/TIPS today.

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.