FED'S BARKIN: LOOKING FOR MORE EVIDENCE OF INFLATION'S DECLINE

BARKIN: FED SHOULD ACT DELIBERATELY, KEEP CLOSE EYE ON ECONOMY

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

US Treasury Auction Calendar

Broad-based Softening In June Underlying Inflation Metrics

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

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

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

Treasury Futures Edge Lower On Mixed Data & Mester Comments

US TSYS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

Treasury futures closed near session lows on Thursday with higher-than-expected continuing claims and lower-than-expected housing start and building permits contributing to the weakness in rates, while comments from Cleveland Fed Pres Mester added to the the weakness.

  • Jun'24 10Y futures closed the session down (- 07+) at 109-16, just off late session lows of 109-14. Support holds at 109-07/108-15 (50-day EMA / Low May 14), while a break above Thursday's highs of 109-31+, would open up a move to 110-06+ (Apr 4 high)
  • The treasury curve bear-flattened on Thursday, yields were 1-8bps higher, the 2Y yield +7.2bps at 4.795%, 10Y -3.5bps to 4.375%, while the 2y10y -3.665 at -42.246
  • (MNI) - Rising Inflation Risks To Delay Cut Timing: Mester - (See link)
  • Rate cut projections gradually receded from Wed's post-data highs. At the moment: June 2024 at -10% w/ cumulative rate cut -2.5bp at 5.313%, July'24 at -22% vs. -28% earlier w/ cumulative at -8bp (-9.5bp earlier) at 5.258%, Sep'24 cumulative -21.6bp (-23.6bp earlier), Nov'24 cumulative -30.3bp (-33.8bp earlier), Dec'24 -45.4bp (-49.5bp earlier).
  • Looking Ahead: Leading Index. Fed Speak: Waller, Kashkari, Daly, Kugler
178 words

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.

Treasury futures closed near session lows on Thursday with higher-than-expected continuing claims and lower-than-expected housing start and building permits contributing to the weakness in rates, while comments from Cleveland Fed Pres Mester added to the the weakness.

  • Jun'24 10Y futures closed the session down (- 07+) at 109-16, just off late session lows of 109-14. Support holds at 109-07/108-15 (50-day EMA / Low May 14), while a break above Thursday's highs of 109-31+, would open up a move to 110-06+ (Apr 4 high)
  • The treasury curve bear-flattened on Thursday, yields were 1-8bps higher, the 2Y yield +7.2bps at 4.795%, 10Y -3.5bps to 4.375%, while the 2y10y -3.665 at -42.246
  • (MNI) - Rising Inflation Risks To Delay Cut Timing: Mester - (See link)
  • Rate cut projections gradually receded from Wed's post-data highs. At the moment: June 2024 at -10% w/ cumulative rate cut -2.5bp at 5.313%, July'24 at -22% vs. -28% earlier w/ cumulative at -8bp (-9.5bp earlier) at 5.258%, Sep'24 cumulative -21.6bp (-23.6bp earlier), Nov'24 cumulative -30.3bp (-33.8bp earlier), Dec'24 -45.4bp (-49.5bp earlier).
  • Looking Ahead: Leading Index. Fed Speak: Waller, Kashkari, Daly, Kugler