Free Trial

Tsys seesawed higher on day,...........>

US TSY FLOWS
US TSY FLOWS: Tsys seesawed higher on day, recovering slightly after Tue's sale,
decent volume after midday (TYZ>1.06M), curves bull flattening. Tsys inched
higher after Aug final demand PPI -0.1% overall, first decline since Feb'17.
Late morning excitement on headlines US proposing new round of trade talks
w/China, fast risk-on react from algos on the headline, buying equitys, selling
Tsys. Risk-on unwind soon after, sources said on mkt disappointment that Tsy Sec
Mnuchin would be handling, NOT trade rep Lighthizer.
- US$ sold off, dollar index DXY -.479, 94.770 (94.753L/95.283H), $/Eur +0.0032
at 1.1638, $/Yen -.50 111.14; equities weaker (emini -3.75, 2885.0 vs.
2895.25H); Gold bounced (XAU +8.47, 1207.05); West Texas crude adding to Tue's
rally as Hurricane Florence threatens Eastern seaboard (WTI +1.37, 70.62). 
- Prop and fast$ buyers early, algo/program trading acct sellers late morning,
decent corp-supply hedging for third consecutive session, 2s10s fatteners. HEAVY
Eurodollar volume, heavy sales EDZ9, buyers EDZ8 and EDM9, heavy buying Jan19
FF. Tsy cash/ylds: 2Y 99-24.5 (2.744%), 5Y 99-16 (2.857%), 10Y 99-09 (2.957%),
30Y 98-00 (3.102%).

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.