MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

US TSYS: Futures Weaker, No Cash Trading Due To Japan Holiday

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America

TYZ4 is trading at 114-20, -0-07 from NY closing levels. 

  • There has been no cash trading for US tsys in today's Asia-Pac session due to a holiday in Japan.
  • Newsflow has also been light so far today, leaving Asia-Pac market participants to digest Friday’s conflicting Fedspeak.
  • Fed Governor Bowman (voter) issued a statement on Friday explaining why she dissented against the FOMC’s decision to cut the Fed Funds target range by 50bps last Wednesday. Her comments were in contrast to Governor Waller’s remarks in a CNBC interview, which were concerned with risks of inflation undershooting.
  • Projected rate cuts into early 2025 bounced off early session lows on Friday, with the latest vs. late Thursday levels (*) as follows: Nov'24 cumulative -37.8bp (-35.9bp), Dec'24 -75.0bp (-72.4bp), Jan'25 -108.5bp (-106.5bp).
  • Looking ahead to today’s US calendar, we will see more Fedspeak from Bostic, Goolsbee and Kashkari, alongside data including flash PMI data from S&P Global.
151 words

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.

TYZ4 is trading at 114-20, -0-07 from NY closing levels. 

  • There has been no cash trading for US tsys in today's Asia-Pac session due to a holiday in Japan.
  • Newsflow has also been light so far today, leaving Asia-Pac market participants to digest Friday’s conflicting Fedspeak.
  • Fed Governor Bowman (voter) issued a statement on Friday explaining why she dissented against the FOMC’s decision to cut the Fed Funds target range by 50bps last Wednesday. Her comments were in contrast to Governor Waller’s remarks in a CNBC interview, which were concerned with risks of inflation undershooting.
  • Projected rate cuts into early 2025 bounced off early session lows on Friday, with the latest vs. late Thursday levels (*) as follows: Nov'24 cumulative -37.8bp (-35.9bp), Dec'24 -75.0bp (-72.4bp), Jan'25 -108.5bp (-106.5bp).
  • Looking ahead to today’s US calendar, we will see more Fedspeak from Bostic, Goolsbee and Kashkari, alongside data including flash PMI data from S&P Global.