NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

Unemployment Steady; Projected to Rise Gradually

MNI: EUROZONE MAR UNEMPLOYMENT RATE 6.5%

Services PMI points to less pass through from NLW increase to inflation

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Tsys Futures Edge Higher, PCE Data Less Hawkish, Japan Closed

US TSYS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

Treasury futures traded higher on Friday, while curves flatter with the short end mildly weaker. Focus was on PCE data comes out in-line to slightly higher -- deemed less hawkish in light of Thursday's Q1 beat and Personal Income/spending. Japan is out today, so cash trading will open when London gets in.

  • Jun'24 10Y futures edged higher throughout the Friday session, before gapping higher on US data releases and tapping a high of 107.27+ before closing the session at 107-18+, up 07+, as trading kicks off on Monday we are up another + 02 at 107-20.
  • The trend outlook in Treasuries is unchanged and the direction is down. The contract traded to a fresh cycle low Thursday Initial resistance is 108-13 (20-day EMA), while to the downside, initial support is at 107-04+ (Apr 25 low).
  • Cash Treasury curve was flatter on Friday with yields 2-5bps lower, with the 2Y yield was -2bps to 4.993%, 10Y -4bps to 4.663%, while the 2y10y -4.4098 at -33.664
  • On the data front: Personal Income inline at 0.5%, up from 0.3% prior, Person Spending was 0.8% vs 0.6% est, PCE Deflator MoM (0.3% vs. 0.3%), YoY (2.7% vs. 2.6% est, 2.5% prior) PCE Core Deflator MoM (0.3% vs. 0.3% est), YoY (2.8% vs. 2.7% est, 2.8% prior).
    & U. of Mich. Sentiment 77.2 vs. 77.9 est
  • Looking ahead: Focus is on FOMC policy announcement on Wednesday,
225 words

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.

Treasury futures traded higher on Friday, while curves flatter with the short end mildly weaker. Focus was on PCE data comes out in-line to slightly higher -- deemed less hawkish in light of Thursday's Q1 beat and Personal Income/spending. Japan is out today, so cash trading will open when London gets in.

  • Jun'24 10Y futures edged higher throughout the Friday session, before gapping higher on US data releases and tapping a high of 107.27+ before closing the session at 107-18+, up 07+, as trading kicks off on Monday we are up another + 02 at 107-20.
  • The trend outlook in Treasuries is unchanged and the direction is down. The contract traded to a fresh cycle low Thursday Initial resistance is 108-13 (20-day EMA), while to the downside, initial support is at 107-04+ (Apr 25 low).
  • Cash Treasury curve was flatter on Friday with yields 2-5bps lower, with the 2Y yield was -2bps to 4.993%, 10Y -4bps to 4.663%, while the 2y10y -4.4098 at -33.664
  • On the data front: Personal Income inline at 0.5%, up from 0.3% prior, Person Spending was 0.8% vs 0.6% est, PCE Deflator MoM (0.3% vs. 0.3%), YoY (2.7% vs. 2.6% est, 2.5% prior) PCE Core Deflator MoM (0.3% vs. 0.3% est), YoY (2.8% vs. 2.7% est, 2.8% prior).
    & U. of Mich. Sentiment 77.2 vs. 77.9 est
  • Looking ahead: Focus is on FOMC policy announcement on Wednesday,