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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessUS TSYS: Off Highs But Post Labor Day Trend Rally Extends Before Payrolls
- Treasuries have slowly extended the week’s trend rally seen since Labor Day, aided today by weak European equities and industrial data.
- Cash yields are mostly 3bps lower across the curve, with 2s10s at -1.4bp pulling back after yesterday’s trip back into positive territory.
- 2Y yields briefly pushed below 3.70% (currently 3.714%) for the first time since global risk-off fallout after last month’s payrolls, whilst 10s are just about holding their breach (currently 3.697%).
- TYZ4 is at 114-30 (+06) off a latest high of 115-00+ on modest cumulative volumes of 290k.
- The contract is approaching the bull trigger at 115-19 (Aug 5 high) after which lies the round 116-00, whilst a stronger payrolls report could see support at 113-28 (20-day EMA) start to come more into play again.
- Data: Payrolls Aug (0830ET) – MNI Preview here.
- Fedspeak: Williams keynote remarks (0845ET, text + Q&A), Waller on economic outlook (1100ET, text + Q&A), Goolsbee on CNBC (1130ET)
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.