Free Trial

*** Tsys higher/off O/N highs,......>

US TSYS SUMMARY
US TSYS SUMMARY: *** Tsys higher/off O/N highs, decent futures volume
(TYH>370k), 10Y yld -.0203 to 2.6298; rates gradually gained following steady
policy annc from BoJ/dovish Kuroda comments. Otherwise another light data day
(Philly Fed, Redbook) as US Govt gets back to work. Equities near steady (emini
-1.25, 2834.0), gold firmer (XAU +3.08, 1336.7), oil firmer (WTI +0.28, 63.85).
- Asia, opened near steady to Mon's closing lvls, gaining support following BoJ
annc. Offers scarce following dovish BoJ Gov Kuroda comments not close to
tapering, misc acct short covering
- London, reports of huge order book for Spanish 10Y supply helped EGBs move
higher. Sources reported pre-auction hedging ahead today's $26B Tsy 2Y note
supply, two-way in 10s with better buying from real$, bank buying 30s. 
- Swaps, spds running steady/mixed on narrow range. Modest overnight flow
included bank portfolio receivers in 5s early on mild paying in 2s, receiving in
3s later overnight, $83.3k DV01 2Y-6Y FLATTENER.
- Eurodollar futures, trading higher, near top end of range/long end
outperforming; 3M LIBOR set +0.0039 to 1.7452% (+0.0007/wk).

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.