Trial now
UK

Gilt curve and the Pound

CZECHIA

First Hike on June 23 Is Now Very Likely

POLAND

PLN Weakness Is Weighing on Polish Equities

US TSYS SUMMARY
US TSYS SUMMARY: Tsys trades lower/off late morning lows by the bell, albeit on
light volume (TYU<700k), ongoing quiet summer trade, sidelined accts into the
Fed chair semi-annual MonPol testimony Tue (1000ET). Little react to data:
retail sales (+0.5%), Jul Empire Manufacturing Index (22.6) and May business
inventories (+0.4%).
- US$ index softer: DXY -0.178 to 94.499; US$/Yen lower -.12 to 112.26
(112.56H/112.11L); equities weaker (emini -7.25, 2796.0); gold weaker (XAU
-1.41, 1240.04); West Texas crude under heavy pressure (WTI -2.70, 68.31), sell
off after Shell annc ends force majeure on exports, then again on Russia's Trump
comment "not interested in driving prices up (energy) as it drains other areas
(economical)."
- Rates extended session lows into late morning trade, coincided w/positive
research report from BoA heralding "strong earnings growth and low defaults" are
"around the corner". Light deal-tied flow, large FVU/WNU steepener Block:
(+18,328 FVU, 113-16.5 vs. -3,455 WNU, 159-28). Tsy cash/ylds: 2Y 99-25.75
(2.599%), 5Y 99-13.25 (2.750%), 10Y 100-04.5 (2.856%), 30Y 103-05 (2.963%)
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com