Free Trial

US TSYS: Tsys Futures Remain Rangebound Ahead Of Debate & US Data

US TSYS
  • It has been another slow Asian session for US Tsys, futures saw some weakness earlier in the session, before largely paring those moves to trade only slightly lower for the session. TUZ4 is - 00⅞ at 104-08 while TYZ4 is - 01+ at 115-01. There was a decent size block FV/WN flattener traded for DV01 410k.
  • Cash tsys curve is slightly flatter today, yields are trading 0.5-1bps higher. The 2yr is +0.8bps at 3.677%, while the 10yr is +0.6bps at 3.706%. The 2s10s curve remains un-inverted at 2.696, after last night reaching new highs of 7.405.
  • Projected rate cuts through year end have firmed slightly from late Fri levels: Sep'24 cumulative -33.1bp (-33.1bp), Nov'24 cumulative -72.3bp (-71.6bp), Dec'24 -111.3bp (-115.0bp).
  • There is little on the calendar tonight, with focus turning to the Harris vs Trump debate scheduled for 1100 AEST / 9:00 HKT time Wednesday morning, with the market then turning attention to CPI and PPI.

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.