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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 currently sit with a twist steepening that has developed through European hours, having initially opened flatter overnight, pushing new further inverted lows in both 2s10s and 5s30s, with 5s30s briefly the most inverted since Sep-2000.
- The move is potentially driven by Fed tightening expectations being trimmed on growth fears at the same time as QT implications on the longer end of the curve are brought more heavily into focus ahead of the FOMC minutes on Wed.
- 2YY -1bp at 2.446%, 5YY +1.2bps at 2.570%, 10YY +2.4bps at 2.406%, 30YY +4.0ps at 4.471%.
- TYM2 is down 6+ ticks at 122-01 in a relatively narrow range compared to recent moves, with very light volumes. Technicals remain unchanged from Friday: support and the bear trigger is seen at 120-30+ (Mar 28 low) with initial resistance higher at 123-12 (Mar 23 high).
- Data: Finalized February print for durable goods (0830ET).
- Bill issuance: US Tsy $57B 13W, $48B 26W bill auctions (1130ET).
US 2s10s (yellow) and 5s30s (white)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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