CANADA NOV CPI +1.9% YOY VS FORECAST +2%, PRIOR +2%

MNI China Daily Summary: Tuesday, December 17

MNI INTERVIEW: BOS Revises Up Spanish Growth, Inflation Stable

MNI CNB WATCH: Policy Hold Seen, Cuts To Start In Q1 2025

MNI NBH WATCH: NBH Holds Rates, Tweaks Inflation Outlook

MNI INTERVIEW: CNB To Hold, Cut From February - Ex-Official

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: Austria, UK Auction on Jan 7

MNI: US OCT BUSINESS INVENTORIES +0.1%; SALES +0.0%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

US TSYS: Tsys Futures Steady Ahead Of Fed Speak

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • It has been a very slow session for tsys we do trade just off session lows, although ranges have been narrow, while volumes are below averages. The front-end of the cash tsys curve is unchanged, while the longer end is trades slightly cheaper. TU is -00¾ at 102-21+, while TY is -04 at 109-23, both trading within Tuesday's ranges.
  • There is nothing on the data calendar tonight, with focus turning to US jobless claims figures Thursday, as well as speeches this week from Fed officials such as Michael Barr, Lisa Cook, Michelle Bowman and Susan Collins.
  • Overnight moves higher were driven by risk aversion after Ukraine hit Russia with US missiles and Russian President Vladimir Putin approved an updated nuclear doctrine expanding the conditions for using atomic weapons, however those moves have largely been erased. There was no reaction to Biden approving Ukraine for the use of anti-personal landmines.
  • Cash tsys curve has steepened slightly, the front-end is unchanged, while the 10yr is trading +0.6bps at 4.402%.
  • Projected rate cuts into early 2025 receded overnight vs. Tuesday levels (*) : Dec'24 cumulative -14.7bp (-15.4bp), Jan'25 -21.7bp (-24.0bp), Mar'25 -36.0bp (-39.5bp), May'25 -43.9bp (-48.2bp).
191 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.
  • It has been a very slow session for tsys we do trade just off session lows, although ranges have been narrow, while volumes are below averages. The front-end of the cash tsys curve is unchanged, while the longer end is trades slightly cheaper. TU is -00¾ at 102-21+, while TY is -04 at 109-23, both trading within Tuesday's ranges.
  • There is nothing on the data calendar tonight, with focus turning to US jobless claims figures Thursday, as well as speeches this week from Fed officials such as Michael Barr, Lisa Cook, Michelle Bowman and Susan Collins.
  • Overnight moves higher were driven by risk aversion after Ukraine hit Russia with US missiles and Russian President Vladimir Putin approved an updated nuclear doctrine expanding the conditions for using atomic weapons, however those moves have largely been erased. There was no reaction to Biden approving Ukraine for the use of anti-personal landmines.
  • Cash tsys curve has steepened slightly, the front-end is unchanged, while the 10yr is trading +0.6bps at 4.402%.
  • Projected rate cuts into early 2025 receded overnight vs. Tuesday levels (*) : Dec'24 cumulative -14.7bp (-15.4bp), Jan'25 -21.7bp (-24.0bp), Mar'25 -36.0bp (-39.5bp), May'25 -43.9bp (-48.2bp).