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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 twist flattened through the European session as 10Y yields struggle to rise materially above 3% whilst 2Y yields continue to shift higher as year-end Fed pricing squeezes to new highs. The move is likely helped by Shanghai set to reinstate Covid restrictions on seven districts this weekend to conduct mass testing.
- The combination sees 2s10s at 18bps for the lowest since early May, although a long way off recent lows of -10bps in early April.
- 2YY +3.4bps at 2.846%, 5YY +0.9bps at 3.073%, 10YY -1.5bps at 3.027%, 30YY -1.5bps at 3.148%.
- TYU2 sits 2 ticks higher at 118-00 in the middle of yesterday’s range which sees the outlook remain bearish, eyeing support at 117-22 (Jun 9 low) with resistance at 119-16+ (Jun 1 high).
- Data: CPI inflation for May is obviously key but real earnings, the preliminary June U.Mich consumer survey and later the monthly budget statement for May are also of note.
- No issuance.
Recent flattening in 2s10sSource: 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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