Free Trial

Tsy futures trading weaker/lagging.....>

US TSY FLOWS
US TSY FLOWS: Tsy futures trading weaker/lagging EGBs, off late overnight lows
on moderate volume (TYZ appr 305k), relative quiet w/3Y note auction later.
Equities near steady (emini -0.5, 2588.25), gold weaker (XAU -6.13, 1275.95),
oil little softer (WTI -0.13, 57.22).
- Asia, near steady open, Tsys sold on strong Asian stocks (Nikkei +1.7%, Hong
Kong Hang Seng +1.3%), pre-auction short-sets, selling in 10s, FX-tied sales as
US$ bounced vs. Yen (114.124).
- London, Tsys held narrow/lower range during early hours, pressed as German
yield curve steepened on Austria and German linker supply. Buyers on lows after
weak -1.6% German industrial production, Tsys lagging. Sources reported bank
portfolio sales in 5s, two-way in 10s, fast$ sold across curve.
- Swaps, spds running steady/mixed, wings mildly wider at the moment, narrow
overnight range. Sources reported some rate receiving in short end earlier,
followed by payers in 3s (1.9387) and receivers in 4s and 5s.
- Eurodollar futures, trading mildly lower, middle narrow range, recent selling
in short end, -13k EDZ7 98.475, 3M LIBOR climbs +0.0056 to 1.4026% (+0.0107/wk).

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.