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US TSYS: Tsys Futures Trade In Narrow Range On Low Volumes Ahead Of PPI

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Tsys futures have traded in narrows ranges throughout the APAC session today, with a late move post NY close accounting for all of today's gains, while volumes are well down on recent averages. TU is +01⅞ at 103-14. while TY is +06 at 112-08+ post NY close.
  • It has been a very slow session across all asset classes here in Asia today, early weakness in China equities, however that now looks to have steadied as investors await headlines out of the MOF meeting on Saturday, while NFRA, MIIT and SAMR will hold a press briefing on Monday. The market has turned focus to tonight's US PPI & U. of Mich. Sentiment.
  • French bond futures gapped higher on the open following the Budget announcement with the 2025 budget featuring spending cuts and higher taxes on businesses, the wealthy and energy.
  • Investors preferred eight-week vs four-week bills at auction on Thursday since the issue will mature well after the Fed's November interest-rate decision and therefor be more impact by potential cuts.
  • Cash tsys curves are little changed with yields +0.5bps to -0.5bps, the 10yr hit a high of 4.115% overnight and trades back at 4.06% at the moment, the curve is a touch flatter with the 2s30s -0.4bps at 39.242.
  • Fed fund futures are steady today vs pre data highs with Nov'24 cumulative -21.4bp (-22.7bp), Dec'24 -45.6bp (-46.5bp), Jan'25 -65.4bp (-68.9bp).
  • Chicago Fed President Austan Goolsbee, his Dallas counterpart Lorie Logan, and Fed Governor Michelle Bowman are all due to speak later today
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  • Tsys futures have traded in narrows ranges throughout the APAC session today, with a late move post NY close accounting for all of today's gains, while volumes are well down on recent averages. TU is +01⅞ at 103-14. while TY is +06 at 112-08+ post NY close.
  • It has been a very slow session across all asset classes here in Asia today, early weakness in China equities, however that now looks to have steadied as investors await headlines out of the MOF meeting on Saturday, while NFRA, MIIT and SAMR will hold a press briefing on Monday. The market has turned focus to tonight's US PPI & U. of Mich. Sentiment.
  • French bond futures gapped higher on the open following the Budget announcement with the 2025 budget featuring spending cuts and higher taxes on businesses, the wealthy and energy.
  • Investors preferred eight-week vs four-week bills at auction on Thursday since the issue will mature well after the Fed's November interest-rate decision and therefor be more impact by potential cuts.
  • Cash tsys curves are little changed with yields +0.5bps to -0.5bps, the 10yr hit a high of 4.115% overnight and trades back at 4.06% at the moment, the curve is a touch flatter with the 2s30s -0.4bps at 39.242.
  • Fed fund futures are steady today vs pre data highs with Nov'24 cumulative -21.4bp (-22.7bp), Dec'24 -45.6bp (-46.5bp), Jan'25 -65.4bp (-68.9bp).
  • Chicago Fed President Austan Goolsbee, his Dallas counterpart Lorie Logan, and Fed Governor Michelle Bowman are all due to speak later today