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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
TYH4 is currently trading at 110-23, + 04+ from New York closing levels.
As expected a slow start to the week for markets, treasuries largely unchanged in Asia trading.
- The past month has seen downside pressure on US Tsys, testing the 110-22+ area multiple times, the first support zone and the bear trigger, closing the past week below support at 110-18+ solidifying the break, next support zone remains at 110-16 Dec 13th low, and a level we touched during the Friday session, however only very briefly a break here would open up a move to the Dec 11th lows, of 109-31+.
- To the upside, initial key resistance has been defined at 113-06+, Feb 1 high, where a breach would reinstate a bullish theme. First resistance is 111-11, the 20-day EMA.
- Cash yields have range bound over the past few months, the 10yr has been trading within the 3.80%/4.20% area, closely Friday at 4.175% a break above the 4.20% level would open up a move to the Dec 12 highs of 4.28%.
- Key event risk this week is with the US CPI on Wednesday Est of 0.2% vs 0.3% previously, while retail sales and Claims are expected on Friday.
- Look ahead: Monday data calendar includes NY Fed Inflation Expectations, and more Fed commentary from Fed Gov Bowman, Richmond Fed Barkin MN Fed Kashkar and MN Fed Kashkari.
Fig 1: US 10yr Futures
Source: MNI - Market News/Bloomberg
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.
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