Free Trial
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.
US TSYS
- Treasury futures have done very little today, ranges have been tight. TU is trading at 102-02+ vs morning highs of 102-03.375. TY saw earlier buying at 110-00 to 110-00+ area, although we trade off those levels now down -02 at 109-30+.
- Volumes: TU 46k, FV 64k, TY 101k
- Tsys Flow: Block Buyer FV at 106-16.75, while there was TYN4 Option structure blocked, 3 strikes of calls and a put. Calls 10k 109/109.5/110.25, Put 10k 108.75
- The 5-10y tenors have been the best performing part of the curve over the past week with the 10y yield has rallying 30bps in the past four trading sessions. Rate cut projections continue to gain, while the BBG Surprise Index reaches multi year lows - See Chart 1.
- Cash treasuries are 1-2bp higher, the 2Y +1.2bps to 4.783%, the 10Y +1.6bps at 4.342%, 2s10s is +0.114 at -44.342
- APAC Rates: ACGB yields are 4-8bps lower, curve flatter. NZGB yields 3-7bps lower, with better buying through the belly, JGB yields a 1-4bps lower, with the 10Y -2.6bps and back below 1% at 0.993%
- Late year rate cut projections continue to gain vs. late Monday levels (*): June 2024 at -1.3% w/ cumulative rate cut -.3bp at 5.328%, July'24 at -16% w/ cumulative at -4.3bp at 5.288%, Sep'24 cumulative -19.3bp (-17.2bp), Nov'24 cumulative -27.8bp (-25.3bp), Dec'24 -44.3bp (-40.6bp).
- Looking ahead; MBA Mortgage Applications, ADP Employment Change, S&P Global US PMI & ISM Services Index
Source - BBG
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok