Free Trial

Tsys Futures Off Earlier Lows, Volumes Increase In The Front-End

US TSYS
  • Treasury futures are slightly lower today, although we are currently trading off the intraday lows, there has been increased activity in front-end futures, TU is trading -0-01⅛ at 102-15⅛, TY is -0-05+ at 110-31+.
  • Volumes are slightly above recent averages: TU 72k, FV 75k & TY 143k
  • Tsys flows: Block Seller TYQ4C at 0'16 x10k
  • The cash treasury curve is little changed this morning with the 10Y yield at 4.214%
  • OIS market is now pricing in a 90% chance of a rate cut in September, up from 67% prior to CPI.
  • Citi strategists are emphasizing the attractiveness of steepener trades heading into the US election, driven by dovish FOMC policies and weak June CPI data. They highlight that steepeners benefit from both a more accommodative Fed stance and election-related market dynamics, making them an exception among Trump trades, (per BBG)
  • Looking ahead, We have PPI, U. of Mich. Sentiment while Wells Fargo, Bank Of NY Mellon, JPM & Citigroup report earnings

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.