Free Trial

Tsys bounce off lows past few.......>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys bounce off lows past few minutes following 5k USM Block
buy at 143-02. Tsys were mixed/mildly lower, paring gains/following Bunds last
hour, modest futures volume (TYM>260k); 10Y yld currently 2.9677%. Data today
iRedbook retail sales flurry of home price/sales data, Fed in media blackout
through May 3. Tsy supply w/$32B 2Y note, Apr 30 settle.
- US$ index little weaker (DXY -.036, 90.910) while US$ vs. Yen climbed to
108.92H, 108.82 last; equities stronger (emini +16.75, 2688.0); gold little
firmer (XAU +1.34, 1326.14); West Texas crude little firmer (WTI +0.29, 68.93).
- Asia, Tsys chopped higher after steady open, ylds off Mon's 4+Y highs, desks
eye growing correlation to ylds (app 60%). Sources reported central bank buying
in intermediates, real$ selling cash 30s; macro fund flatteners London hours.
- Swaps, spds running mildly wider in wings vs. tighter bell, flow included
real$ paying belly, bank receiving 10s
- Eurodollar futures, steady/mixed, short end weaker as 3M LIBOR trying to gain
upward momentum after slow start to wk (3 Month +0.0021 to 2.3616%, +0.0024/wk),
modest 2-way in EDM8 at 97.63/steady.

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.