Free Trial

*** Tsys trading firmer after.......>

US TSYS SUMMARY
US TSYS SUMMARY: *** Tsys trading firmer after midday but well off first half
highs to low end of range. Quiet end to FOMC week as curve comes off flatter
levels. No corp/supra sov issuance, no react to second tier data.
- Tsy futures kicked off w/risk-off tone as N Korea tensions climb again (WSJ
reported NK warns of H-bomb test over Pacific). Tsy futures traded higher
through midmorning curve continues to flatten on decent volume as US$ weakened
vs. Yen. Early think-tank report speculated # of rate hikes cut from 3 to 2 next
yr if inflation not buoyed, tax/infrastructure not stimulative enough for
economy. Well the Fed remains data dependent. 
- Decent first half flow w/real$ sales long end, curve flatteners in 2s vs. 5s,
7s, 10s and 30s, 5s30s steepener. Decent bout of selling in TYZ, no apparent
trigger, appr -90k took TYZ from 125-28 to 125-24 over 5 minute period 125-25.5
high volume lvl. Some cited blip off low for US% vs. Yen. Technical sales,
deal-tied selling ahead next week supply. 
- Swap spds held mixed levels on narrow range, spd curve continued to fade
steepening in Tsys, early receivers turned two-way. 

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.