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Free AccessTreasuries Soften On Putin Headline
- Cash Tsys sell-off on a headline from Putin seeing ‘certain positive developments’ in talks with Ukraine before giving back only a small part of the move as a transcript appeared less positive.
- The curve bear flattens on the day as the 2YY touches new post-pandemic highs and unwinds yesterday’s steepening with 2s10s at 26bps.
- 2YY +4.6bps at 1.742%, 5YY +2.8bps at 1.951%, 10YY +2.3bps at 2.009% and 30YY +1.2bps at 2.379%.
- TYM2 sits just 2 ticks lower on the day at 125-30+ on what has been extremely low volumes prior to a pick up on latest headlines. It sits just above support at 125-29 (Feb 25 low) after which it could open the bear trigger of 125-14+.
- Data: Preliminary U.Mich consumer survey for March(1000ET). Focus on inflation expectations after the long-term measure was trimmed a tenth to 3.0% in February.
- No Tsy issuance.
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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.