Free Trial

Tsy futures trading firmer but still...>

US TSY FLOWS
US TSY FLOWS: Tsy futures trading firmer but still off mid-morning highs.
Equities on the other hand had been waffling off lows (SPX -38.0 at 2433.0,
pressure receded after London went home) but are headed south yet again: SPX
-51.0 at 2420.0
- US$ index that had recovered some ground after conf data is heading lower
again (DXY -.548 at 96.502). Note, US$/Yen making new session lows, -.73 at
110.64.
- Coming up: 7Y note auction, WI trading 2.695% / 2.685% into the $32B 7Y note
auction (9128285T3) that was awarded 2.974% in previous $32B 7Y auction in Nov.
- Swap spds have gradually narrowed from morning's mixed/steady lvls, decent
two-way flow earlier included better rate paying in 5s-7s.
- Overall volumes much better than prior session at this time (TYH just under
1M) largely due to return of London from Boxing day holiday. Pre-auction
hedging, mixed year-end positioning/extensions.
- Tsy cash/ylds: 2Y 99-28 (2.562%), 5Y 100-02.25 (2.608%), 10Y 103-06.5
(2.751%), 30Y 107-01.5 (3.015%)

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.