Free Trial

*** Tsys trading higher, but well...>

US TSYS SUMMARY
US TSYS SUMMARY: *** Tsys trading higher, but well off first half/session highs.
Geopol concerns never far from front burner these days, EGBs/Tsys traded broadly
higher earlier, concerted safe haven bid for risk-off assets following N Korea
missile launch that flew over northern Japan.
- Tsy futures gradually worked off session highs as USD bounced off lows, higher
vs. Yen recently, equities rebounded. Source noted appr +6,000 S&P 500 futures
at 1043:354ET (big, not emini), not an endorsement for risk-on Gold still well
bid/off highs (+6.86, 1315.22). 
- Healthy buying cash, futures in belly; profit-taking on firmer Conf Board
cons/conf, 122.9; pre-auction hedging, strong $28B 7Y auction, stopped thru
1.941%, drew strong 68.8% indirects.
- Tsy futures volume remains healthy w/Sep/Dec roll activity ahead Thu's first
notice. Option trade saw better upside call spd buying on net, w/decent put
buying near highs in the underlying. Implieds have receded from earlier highs.
- Swap spds mildly wider (2and 5yr roll adjusted) two-way in 2s-5s, paying in 7s
and 10s.

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.