MNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Tsys Futures Rally, Curve Bull-Flattens On Risk-Off Session

US TSYS
  • Treasury futures did very little heading into the US session, before surging higher following a sharp pullback in oil prices (WTI down more than 4% on the day) as well as soft data including construction activity and ISM Manufacturing.
  • Equities also fell overnight with (Nasdaq futures -3.4% vs -2.4% in S&P eminis) after the like of Nvidia fell 9.50% on the back of being subpoenaed by the DOJ, while the SOX Index fell 7.75%.
  • It was reported that Tuesday was the single largest day of corporate issuance on report, with about 25 deal printing, this could have limited further upside in tsys futures.
  • TUZ4 closed +0-02¼ at 103-27 while TYZ4 closed +0-14 at 114-00.
  • Cash treasury curves bull-flattened with yields 5-7.5bps lower. The 2yr closed -5.3bps at 3.863, while the 10yr closed -7.2bps at 3.831% the 2s10s is hovering near positive territory at -3.413.
  • Projected rate cut pricing through year end has firmed 1-2bps vs. Friday close levels: Sep'24 cumulative -34.8bp (-33.0bp), Nov'24 cumulative -67.7bp (-66.4bp), Dec'24 -101.9bp (-99.7bp)
  • The major focus this week is on Nonfarms on Friday, later today we will get Trade Balance, MBA Mortgage Applications & JOLTS job openings, while Bank Of Canada rate decision will also be watched.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.