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CHINA PBOC CONDUCTS CNY132.6 BLN VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1220 THURS VS 7.1191

MNI China Daily Summary: Wednesday, October 16

MNI: PBOC Net Injects CNY581.4 Bln via OMO Wednesday

Australia Sep Unemployment Rate 4.1%

MNI:AUSTRALIA SEP UNEMPLOYMENT RATE +4.1%

Japan Sep Exports -1.7% Y/Y; Imports +2.1% Y/Y

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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US TSYS: Tsys Futures Edges Slightly Lower, Curve Steepens

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Tsys futures have seen a small move lower over the past hour, which could be linked to the strong AU employment data, however futures still trade within Wednesday's ranges.
  • On what was a quiet day for US data on Wednesday, futures initially pushed higher after softer-than-expected September UK inflation numbers while large block flows ($520k/DV01 10-year buyer and a $555k/DV01 5-year buyer) also supported the bid tone.
  • Cash tsy curve has bear-steepened this morning, yields are +0.5bps to 2bps higher. The 2yr is trading +0.7bps at 3.944%, while the 10yr is +1.8bps at 4.03%. The 2s10s was little changed on Wednesday trading at 8.1bps.
  • Fed fund futures are pricing in 23.6bps or 95% chance of a cut at the November meeting, and 45.5bps of cuts by the December meeting both little changed over the past few sessions.
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  • Tsys futures have seen a small move lower over the past hour, which could be linked to the strong AU employment data, however futures still trade within Wednesday's ranges.
  • On what was a quiet day for US data on Wednesday, futures initially pushed higher after softer-than-expected September UK inflation numbers while large block flows ($520k/DV01 10-year buyer and a $555k/DV01 5-year buyer) also supported the bid tone.
  • Cash tsy curve has bear-steepened this morning, yields are +0.5bps to 2bps higher. The 2yr is trading +0.7bps at 3.944%, while the 10yr is +1.8bps at 4.03%. The 2s10s was little changed on Wednesday trading at 8.1bps.
  • Fed fund futures are pricing in 23.6bps or 95% chance of a cut at the November meeting, and 45.5bps of cuts by the December meeting both little changed over the past few sessions.