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US TSYS: Tsys Futures Steady Ahead Of Retail Sales

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • It has been a very subdued trading session across all markets today, with China, Taiwan & South Korea out for public holidays. Later today we have US Retail Sales, BBG consensus has retail sales dropping 0.2% m/m in August, following a 1% rise in July.
  • Tsys futures are little changed today TUZ4 is -00⅜ at 104-14⅛, while TYZ4 is -01 at 115-17
  • Earlier, there was a Block 2s10s steepener, and an block sell of FV.
  • Cash tsys yields are flat to 1bps higher, the curve has steepened slightly. The 2yr is +0.2bps at 3.553%, while the 10yr is +0.4bps at 3.621%.
  • Projected rate cuts have firmed 2-3bps throughout the session with the moves coming just post NY close and have continued throughout the Asian session vs. Monday levels (*) : Sep'24 cumulative -43.3bp (-40.6bp), Nov'24 cumulative -80.5bp (-79.1bp), Dec'24 -121.0bp (-120.0bp).
  • Today we have Retail Sales, Industrial Production and a 20y bond auction
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  • It has been a very subdued trading session across all markets today, with China, Taiwan & South Korea out for public holidays. Later today we have US Retail Sales, BBG consensus has retail sales dropping 0.2% m/m in August, following a 1% rise in July.
  • Tsys futures are little changed today TUZ4 is -00⅜ at 104-14⅛, while TYZ4 is -01 at 115-17
  • Earlier, there was a Block 2s10s steepener, and an block sell of FV.
  • Cash tsys yields are flat to 1bps higher, the curve has steepened slightly. The 2yr is +0.2bps at 3.553%, while the 10yr is +0.4bps at 3.621%.
  • Projected rate cuts have firmed 2-3bps throughout the session with the moves coming just post NY close and have continued throughout the Asian session vs. Monday levels (*) : Sep'24 cumulative -43.3bp (-40.6bp), Nov'24 cumulative -80.5bp (-79.1bp), Dec'24 -121.0bp (-120.0bp).
  • Today we have Retail Sales, Industrial Production and a 20y bond auction