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Free AccessUS Tsys ended Thurs lower as market....>
US TSY/RECAP: US Tsys ended Thurs lower as market digesting heavy US$ high-grade
corporate bond supply and decent $28B 7Y note auction. AT&T sold a $22.5B
seven-part debt deal, which has launched; pricing later Thurs. Yields mostly
higher across the curve, seeing some steepening, 5-30 Year yields up 1.bp-3bp.
- Tsy 7Y auction tailed a small bit to 2.126% rate, but drew strong 67.7%
indirects, good 11.54% directs, only small 20.62% for dealers.
- Tsys bounced off earlier session lows around 12:58pm ET amid large 10Y Tsy
futures block: apparent buy done for 10k TYU7 at 125-24+, as was trading
125-24/24+ at post time. Also were two Tsy futures blocks: 10K FVU7 5Y at 118-02
at 1:59pm ET, same-time 7K TYU7 at 125-23+. - Earlier pre-auction shorts/sales,
rate-lock hedges on busy corporate bd issuance: AT&T, BNZ $650M 5.25Y, Amex
two-part debt, BNZ 5.25Y debt deal.
- Also buying of about 10,000 10Y Tsy futures nr 125-25/255 at 9:50am ET. Weak
NY Tsys open, overnight 2way flows; morning pre-auction shorts/sales, 2Y-10Y
Tsys sales. US swaps mixed. MNI poll ups Fri 8:30am ET GDP median estim to 2.7%.
- T-Notes open Asia at 125.26, 10-Year yield last 2.310%.
To read the full story
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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.