Free Trial

*** Tsys finish at/near session.....>

US TSYS SUMMARY
US TSYS SUMMARY: *** Tsys finish at/near session highs, geopol' tensions driving
risk-off/safe haven buying all day w/some sporadic profit taking midday. Debt
ceiling angst? 4W bill rate 1.30% > 2Y note rate of 1.294%, other inversions.
- S&P rating agency said do not see Feds raising rates again this year. Mkts
concur as rate hike % inches lower. According to MNI PNCH, chances of hike in
Sep or Nov FOMC meetings are basically 0.0%, % of hike at Dec 13 FOMC 26%.
- Sources report real$ buying in 2s, 3s and 5s, spec acct selling in 10s,
deal-tied hedging, small but consistent payers in 2s and 10s. No curve steepener
capitulation yet as 10Y yld hlds around last wk lows 2.075%, some looking to add
if technical support holds. Busy corp supply calendar 
- Swap spds march wider, safe haven/risk- off tone adding to move while hedges
for incoming swappable supply adds to flatter spd curve. Sources report mild
rate paying in 2s, two-way in 2s and 2Y OIS, deal-tied paying in 2s, 5s, 7s and
10s, 2way rate/spd flow from asset mngrs, fast$  banks in 5s-10s.
- TSYS 3pm ET: 2Y 1.290%, 3Y 1.391%, 5Y 1.646%, 7Y 1.894%, 10Y 2.068%, 30Y
2.687%

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.