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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.
US TSYS
- Cash Tsys have seen a sizeable rally already today with the combination of China demand fears on rising Covid cases, both German and European ZEW financial analyst sentiment sliding and a further decline in the US NFIB small business survey in the only data of the day.
- The result has been the largest inversion in 2s10s inversion since 2007 at -8bps whilst the 3M to 10Y spread continues its slide, touching 74bp having been 120bp just at the start of July and 176bp at the start of June.
- 2YY -5.8bps at 3.014%, 5YY -6.8bps at 2.987%, 10YY -6.8bps at 2.924% and 30YY -5.0bps at 3.124%.
- TYU2 trades 16 ticks higher at 118-28 off an earlier high of 119-03 on solidly above average volumes. It stopped just show of resistance at 119-05 (Jul 7 high), clearance of which could open the bull trigger at 120-16+ (Jul 6 high).
- Fedspeak: Barkin (’24 voter) to discuss his speech on The Recession Question from Jun 21 with Q&A.
- Bond issuance: US Tsy $33B 10Y Note auction re-open (91282CEP2) – 1300ET
- Bill issuance: US Tsy $34B 52W bill auction – 1130ET
UST 2Y, and 10Y yields top panel, 2s10s and 3M to 10Y spreads bottom panel (showing last price and not ask price in text)Source: Bloomberg
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.
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