MNI China Press Digest Feb 17: PBOC, Credit Demand, Huijin

MNI: China CFETS Yuan Index Down 0.49% In Week of Feb 14

MNI: PBOC Net Drains CNY38.5 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1702 Mon; -1.06% Y/Y

MNI BRIEF: Brazil Outlook Demands 'Higher Doses Of Medicine'

MNI China Daily Summary: Friday, February 14

MNI JAPAN Q4 REAL GDP +0.7% Q/Q; MNI MEDIAN +0.3%

BAKER HUGHES CANADA RIG COUNT 245; OIL RIGS 174; GAS RIGS 71

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 481; GAS RIGS 101

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: October ADP Jobs Gain Surprise Saps Short End Support

US TSYS
  • Treasuries look to finish mostly lower Wednesday, curves flatter with Bonds outperforming after a volatile first half.
  • Treasuries opened higher on the back of strong overnight support in Gilts ahead this morning’s eagerly awaited UK Budget statement. Rates gapped lower following a much better than expected ADP jobs gain for October at 233k (cons 111k) for its strongest monthly print since Jul’23, followed by an upward revised prior to 159k (initial 143k).
  • Treasury futures bounced off post-ADP lows, mirroring a bounce in Bunds and Gilts as markets digested the UK Budget statement. Mixed US data dropped at the same time with stronger than expected Core PCE inflation and Real GDP growth in the Q3 advance report technically below expected at 2.8% annualized. Comments from former Fed VC Brainard that Friday’s employment data will likely be lower due to “disruptive hurricanes, strike activity” contributed to the bounce in intermediate to long end Tsys.
  • The midmorning drive to session highs was short lived, however, support evaporated as details regarding a huge increase in gilt issuance over 5 years spurred heavy selling in EGBs. Meanwhile, pending home sales stronger than expected the best single monthly increase since June 2020 while the Quarterly Refunding Announcement came out in line with estimates at $125B: $58B 3Y notes, $42B 10Y notes and $25B 30Y Bonds.
  • After the bell, the Dec'24 10Y contract is trading -6 at 110-18 vs. 110-17 low, 10Y yield at 4.2823 (+.0282). Curves are flatter: 2s10s -4.377 at 10.998 (-9.646 low), 5s30s -7.240 at 34.296.
  • Focus turns to Thursday’s weekly claims, personal income/spending and MNI’s Chicago PMI data, not to mention Friday's October employment data and next Tuesday's Presidential Election.
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
USGlobalBulletMarketsFixed Income BulletsRegionNorth America

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.