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US TSYS: Tsys Futures Off Overnight Highs, Trumps New Tariffs

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Cash tsys yields are trading slightly higher this morning, however ranges well inside Monday's. The curve has flattened again with the 2s10s -0.448 at -0.663, the 2s30s is -1bp at 26.7bps, slightly off the overnight lows.
  • The 2yr is +1.1bps at 4.279%, while the 10yr is 4.275%. The 10yr is now -17.5bps since closing at its recent highs of 4.45% on Nov 13th, while the 2yr has only tightened 2.5bps.
  • Earlier, Trump stated "we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America." He also said he would hit Canada & Mexico with a 25% tariff on “ALL products,” until such time as they stop drugs in particular "fentanyl" and "all Illegal Aliens" from entering the US. MXN & CAD plunged on these headlines while the BBDXY now trades 0.45% higher.
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  • Cash tsys yields are trading slightly higher this morning, however ranges well inside Monday's. The curve has flattened again with the 2s10s -0.448 at -0.663, the 2s30s is -1bp at 26.7bps, slightly off the overnight lows.
  • The 2yr is +1.1bps at 4.279%, while the 10yr is 4.275%. The 10yr is now -17.5bps since closing at its recent highs of 4.45% on Nov 13th, while the 2yr has only tightened 2.5bps.
  • Earlier, Trump stated "we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America." He also said he would hit Canada & Mexico with a 25% tariff on “ALL products,” until such time as they stop drugs in particular "fentanyl" and "all Illegal Aliens" from entering the US. MXN & CAD plunged on these headlines while the BBDXY now trades 0.45% higher.