MNI: China CFETS Yuan Index Down 0.05% In Week of Jul 19

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

MNI BRIEF: PBOC Cuts 7-Day Repo Rate By 10bp

CHINA PBOC CONDUCTS CNY58.2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI BRIEF: China July Loan Prime Rate Reduced By 10bp

PHILIP Front-End Weaker As Gov Borrowing Increases

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Treasuries Open Steady, Just Off Yearly Lows Ahead of GDP & PCE Data

US TSYS

TYH4 is currently trading at 109-18, up + 01 from New York closing levels

Treasury futures are opening just above Tuesday lows and in line with closing levels, after briefly posting gains during the US session on decent $42B 7Y note auction, while yield curves steepened on Tuesday.

  • Mar'24 10Y futures traded in a tight range on Tuesday at 109-28 high vs 109-15 low. The trend direction in Treasuries is unchanged and remains down with the contract trading closer to its recent lows. Price has pierced 109-17, 50.0% of the Oct - Dec bull cycle. A clear break of this retracement would strengthen the bearish condition and signal scope for an extension towards 108-19+, the 61.8% Fibonacci level. On the upside, initial firm resistance is seen at 110-24+, the 50-day EMA.
  • Tuesday saw lower than expected Durable Goods Orders (-6.1% vs. -5.0% est), FHFA house prices increased by less than expected in Dec, 0.1% M/M (cons 0.3) after 0.31% M/M while Conf. Board consumer confidence saw a sizeable miss in February, falling to 106.7 (cons 115.0) after a downward revised 110.9 (initial 114.8).
  • Looking ahead, Wednesday data calendar includes GDP, PCE, Wholesale/Retail Inv, Fed Speak.
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.