MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Twist Steeper As Front End Pares Some Of Retail Sales Losses

US TSYS
  • Cash Tsys trade twist steeper, ranging from 4bp richer to 2bp cheaper with the pivot after 10s.
  • The front-end chips away at yesterday’s shunt higher in Fed rate expectations after strong retail sales, but the longer-end is less willing to move give up the steepening theme seen in recent weeks. There is also further 20Y supply ahead today plus a stacked earnings docket including Tesla, Procter & Gamble, Morgan Stanley, Netflix, Abbot Laboratories & Elevance Health.
  • It’s a move that pushes 2s10s back up to -35bps, the higher end of yesterday’s wide range of -32bps to -40bps.
  • TYZ3 has lifted to session highs of 106-14 (+7), helped by latest flow including a suggested block buyer for 4k at 106-11. It earlier extended recent lows with 106-03 to push through support at 106-03+ (Oct 4/17 low) after which sits the round 106-00 before 105-05+ (2% 10-dma envelope).
  • Ahead sees housing data but with the second half of the session providing a greater focal point with six different Fedspeakers including four permanent voters (all before Powell speaks tomorrow), which likely take precedence over the Fed’s Beige Book.
  • Note/bond issuance: US Tsy $13B 20Y bond re-open (1300ET)
  • Bill issuance: US Tsy $56B 17-week bills (1130ET)
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsEarnings Calendar Market News

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.