Free Trial

Tsys continues to trade lower/off...>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys continues to trade lower/off late morning lows, albeit on
light volume (TYU<650k), generally quiet summer trade, sidelined accts into the
Fed chair semi-annual MonPol testimony Tue (1000ET). Little react to data:
retail sales (+0.5%), Jul Empire Manufacturing Index (22.6) and May business
inventories (+0.4%).
- US$ index softer: DXY -0.169 to 94.508; US$/Yen lower -.06 to 112.32
(112.56H/112.11L); equities lower (emini -1.75, 2801.5); gold weaker (XAU -0.71,
1240.74); West Texas crude under heavy pressure (WTI -3.40, 67.61), sell off
after Shell annc ends force majeure on exports, then again on Russia's Trump
comment "not interested in driving prices up (energy) as it drains other areas
(economical)."
- Rates extended session lows into late morning trade, coincided w/positive
research report from BoA heralding "strong earnings growth and low defaults" are
"around the corner". Light deal-tied flow, large FVU/WNU steepener Block
(+18,328 FVU, 113-16.5 vs. -3,455 WNU, 159-28). Tsy cash/ylds: 2Y 99-25.75
(2.599%), 5Y 99-13 (2.752%), 10Y 100-04.5 (2.856%), 30Y 103-05 (2.964%)

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.