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Free Access*** Tsy futures holding mixed.......>
US TSYS SUMMARY: *** Tsy futures holding mixed levels early in the second half,
long end weaker on a quiet start to the new week w/London out on 1-day bank
holiday. Tsy flows muted if you take away the heavy Sep/Dec roll volume (TYU/TYZ
over 1M) and Tsy note auction hedging. Little/no react to second tier data.
Participants sidelined ahead Fri's Aug NFP 180k. Equities slip lower on 805 name
sell program last few minutes (emini -3.25, 2439.25). Gold holding strong gains
(+15.65, 1307.12), Oil on lows (WTI -1.64, 46.22).
- Tsys opened mixed, 5/30Y curve mildly steeper after overnight consolidation
range. Busy auction schedule: 1130ET US$26B 2Y auction, 1300ET $34B 5Y auction,
plus usual bill sales.
- Two-way flow in 2s, 2Y swap spd marched tighter, appr $182M 5Y payer from
1.7930-1.7995% at 1002-1003ET, followed modest 3s4s5s ratio spd fly. Light FX
acct buying in notes as USD weakend slightly vs. Yen. 5s30s curve steepeners.
- Soft $26B 2Y auction, which drew a 1.345% rate and moderately weak 45.8%
indirects. Dealer-led short-setting into the 1pm ET $34B 5Y auction.
- Eurodollar futures steady in wings, Reds-Blues mildly higher
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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.