MNI China Daily Summary: Tuesday, October 8

MNI BRIEF: Japan's Sept Sentiment, Outlook Indexes Fall

MNI BRIEF: China Local Govs To Speed Up Fiscal Spending

MNI BRIEF: Brazil Requires Prudent Monetary Policy - Galipolo

MNI: PBOC Net Drains CNY886.9 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.0709 Tues; +4.18% Y/Y

EZ/UK Bond Supply Calendar: UK, DE Auction on Wednesday

MNI: US REDBOOK: OCT STORE SALES +5.3% V YR AGO MO

MNI: US AUG TRADE GAP -$70.4B VS JUL -$78.9B

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

US TSYS: Twist Steeper With No Sign Of Upcoming 3Y Auction Weighing

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries have increasingly pared earlier gains as US desks filter in, shrugging off oil futures having eased away from yesterday’s highs.
  • Cash yields are 2bp lower (2s) to 0.5bp higher (30s), with the steepening on the day not suggesting any concerns about absorbing today’s $58bn 3Y auction. The latter can see added attention considering a lighter docket.
  • 2s10s sits at 5.3bps (+2bp) after yesterday’s fleeting inversion, but remains comfortably off last month’s ytd high of 24bps.
  • TYZ4 has just touched session lows of 112-16 for almost unchanged on the day, with cumulative volumes at a reasonable but certainly not elevated 350k. It’s off an earlier high of 112-24 but has remained within yesterday’s range throughout.
  • Yesterday’s extension of a bearish theme sees support at 112-13+ (Oct 7 low) after which lies the round 112-00.
  • Data: Trade balance Aug (0830ET)
  • Fedspeak: Bostic on economic outlook (1245ET, just Q&A), Collins at a banking conference (1600ET, text + Q&A), Jefferson on discount window (1930ET, text + Q&A)
  • Note/bond issuance: US Tsy $58B 3Y Note auction - 91282CLQ2 (1300ET)
  • Bill issuance: US Tsy $80B 42D CMB auction (1130ET)
181 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.
  • Treasuries have increasingly pared earlier gains as US desks filter in, shrugging off oil futures having eased away from yesterday’s highs.
  • Cash yields are 2bp lower (2s) to 0.5bp higher (30s), with the steepening on the day not suggesting any concerns about absorbing today’s $58bn 3Y auction. The latter can see added attention considering a lighter docket.
  • 2s10s sits at 5.3bps (+2bp) after yesterday’s fleeting inversion, but remains comfortably off last month’s ytd high of 24bps.
  • TYZ4 has just touched session lows of 112-16 for almost unchanged on the day, with cumulative volumes at a reasonable but certainly not elevated 350k. It’s off an earlier high of 112-24 but has remained within yesterday’s range throughout.
  • Yesterday’s extension of a bearish theme sees support at 112-13+ (Oct 7 low) after which lies the round 112-00.
  • Data: Trade balance Aug (0830ET)
  • Fedspeak: Bostic on economic outlook (1245ET, just Q&A), Collins at a banking conference (1600ET, text + Q&A), Jefferson on discount window (1930ET, text + Q&A)
  • Note/bond issuance: US Tsy $58B 3Y Note auction - 91282CLQ2 (1300ET)
  • Bill issuance: US Tsy $80B 42D CMB auction (1130ET)