MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

Moderate Consumption Continues As Real Income Growth Stays Soft

MNI: US JUN PERSONAL INCOME +0.2%; NOM PCE +0.3%

Monthly Retail Sales Volatility Obscures Still-Positive 3m/3m Trend

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

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

Treasuries Weaken on Fed's Bostic's Comments, US PPI Later

US TSYS

TYH4 is currently trading at 110-01, down - 04+ from New York closing levels.

Treasuries open Asia trading slightly firmer, however weakened after Atlanta Fed Bostic's comments, where he mentioned there is no rush to cut rates, but sees two rate cuts this year.

  • Treasury futures are testing lows as Asia breaks for lunch, the move lower was driven by Fed's Bostic comments. Mar'24 10y futures hit a low of 110-00+, currently just above there at 110-01, while Mar'24 2Y futures broke through US session lows to trade at 102-01+.
  • Ahead of another day of US data, key technical levels to watch include initial support at 109-17/16+ (50.0% of the Oct 19 - Dec 27 bull phase/Low Feb 14), a break below here could open up new yearly lows and a test of 109-05+ (lows of Nov 28). To the upside, initial resistance lies at 110-17.5 (the highs from Feb 15th), while a break above opens up a move to 111-02+ (20-day EMA).
  • Cash yields are 1-3bps higher across the curve, the 2Y yield +2.3bp higher at 4.597%, 10Y yield +2.3bps higher at 4.253%.
  • Headlines have been on the quiet side during the Asia today, with a meeting between US Secretary Of State and China's Wang Yi later the only thing to note.
  • Looking ahead: Friday data calendar includes PPI, House Starts/Build Permits, UoM Inflation
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.