MNI China Daily Summary: Monday, November 18

MNI BRIEF: China’s October Youth Employment Rate Remains High

MNI BRIEF: Beijing Retail Sales Growth Decline Narrows In Oct

MNI: PBOC Net Injects CNY38.9 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1907 Mon; +0.11% Y/Y

CHINA PBOC CONDUCTS CNY172.6 BLN VIA 7-DAY REVERSE REPOS MON

Japan Sep Machine Orders -0.7% M/M

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

US TSYS: Politics In Spotlight With A Quieter Docket Ahead

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries trade bear steeper from Friday’s close as US desks filter in, with the front end little changed on balance but the longer end selling off in London hours.
  • Politics remains in the spotlight, with President-elect Trump reportedly eyeing a new candidate for Treasury Secretary amid internal debate, whilst separately, President Biden has approved Ukraine’s use of long-range missiles inside Russia.
  • Cash yields are 0-3.5bp higher, with 2s10s at 16bps (+2bp) but still within recent ranges. Most benchmark yields are firmly within Friday's range although 30s have probed higher at 4.655%, albeit still below last week's high of 4.6644% (with FOMC officials increasingly sensitive to long-term yield increases).
  • TYZ4 trades on and off session lows of 109-09+ (-07+) on modestly below recent average volumes of 300k. It has remained within yesterday’s range throughout.
  • Resistance is seen at 109-30+ (Nov 13 high) but a bearish trend is seen in place with support at 108-18+ (Fibo projection of Oct 1-10-16 price swing) after which lies 108-03 (Fibo projection of the same moves).  
  • Data: NY Fed services Nov (0830ET), NAHB housing index Nov (1000ET), TIC flows Sep (1600ET)
  • Fedspeak: Goolsbee welcome remarks (1000ET)
  • Bill auction: US Tsy $81B 13W, $72B 26W (1130ET)
197 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.
  • Treasuries trade bear steeper from Friday’s close as US desks filter in, with the front end little changed on balance but the longer end selling off in London hours.
  • Politics remains in the spotlight, with President-elect Trump reportedly eyeing a new candidate for Treasury Secretary amid internal debate, whilst separately, President Biden has approved Ukraine’s use of long-range missiles inside Russia.
  • Cash yields are 0-3.5bp higher, with 2s10s at 16bps (+2bp) but still within recent ranges. Most benchmark yields are firmly within Friday's range although 30s have probed higher at 4.655%, albeit still below last week's high of 4.6644% (with FOMC officials increasingly sensitive to long-term yield increases).
  • TYZ4 trades on and off session lows of 109-09+ (-07+) on modestly below recent average volumes of 300k. It has remained within yesterday’s range throughout.
  • Resistance is seen at 109-30+ (Nov 13 high) but a bearish trend is seen in place with support at 108-18+ (Fibo projection of Oct 1-10-16 price swing) after which lies 108-03 (Fibo projection of the same moves).  
  • Data: NY Fed services Nov (0830ET), NAHB housing index Nov (1000ET), TIC flows Sep (1600ET)
  • Fedspeak: Goolsbee welcome remarks (1000ET)
  • Bill auction: US Tsy $81B 13W, $72B 26W (1130ET)