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US TSYS: Twist Flatter With ISM Mfg Starting A Heavy Week For Data

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries sit twist flatter with the US coming back from Labor Day, with the front-end fading solid declines in energy and industrial metals.
  • ISM manufacturing is in macro focus today whilst there is heavy bill issuance.
  • Cash yields sit between 1.7bp higher (3s) to 0.4bp lower (30s).
  • 2s10s at -2.0bps (-1bp) holds close to Friday’s latest high of +0.5bp, itself close to the +2bps seen briefly in global risk-off spillover the Monday after last month’s payrolls.
  • TYZ4 at 113-17+ is little changed from Friday’s settle having lifted from yesterday’s holiday low of 113-12. The contract is in retracement mode with support at that low before 113-00 (Aug 8 low), whilst resistance is seen at 114-19+ (Aug 21 high).
  • Data: S&P Global US Mfg PMI Aug f (1000ET), ISM mfg Aug (1000ET), Construction spending Jul (1000ET)
  • Bill issuance: US Tsy to sell $76bn 13-W bills, $70bn 26-W bills (1130ET), $46bn 52-W bills, $65bn 42-D CMB (1300ET)
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  • Treasuries sit twist flatter with the US coming back from Labor Day, with the front-end fading solid declines in energy and industrial metals.
  • ISM manufacturing is in macro focus today whilst there is heavy bill issuance.
  • Cash yields sit between 1.7bp higher (3s) to 0.4bp lower (30s).
  • 2s10s at -2.0bps (-1bp) holds close to Friday’s latest high of +0.5bp, itself close to the +2bps seen briefly in global risk-off spillover the Monday after last month’s payrolls.
  • TYZ4 at 113-17+ is little changed from Friday’s settle having lifted from yesterday’s holiday low of 113-12. The contract is in retracement mode with support at that low before 113-00 (Aug 8 low), whilst resistance is seen at 114-19+ (Aug 21 high).
  • Data: S&P Global US Mfg PMI Aug f (1000ET), ISM mfg Aug (1000ET), Construction spending Jul (1000ET)
  • Bill issuance: US Tsy to sell $76bn 13-W bills, $70bn 26-W bills (1130ET), $46bn 52-W bills, $65bn 42-D CMB (1300ET)