US SEP SERVICES PMI 55.2 (FLASH 55.4, AUG 55.7)

UK SEP SERVICES PMI 52.4 (FLASH 52.8, AUG 53.7)

FRANCE SEP SERVICES PMI 49.6 (FLASH 48.3, AUG 55.0)

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI BRIEF: NBP Keeps Key Interest rates unchanged

MNI BRIEF: Turkish Inflation Expectations Ease As CBRT Holds

US EIA:NAT GAS STORAGE +55 BCF TO 3,547 BCF SEP 27 WK

MNI: US AUG FACTORY ORDERS -0.2%; EX-TRANSPORT NEW ORDERS -0.1%

MNI: US ISM SEP SERVICES COMPOSITE INDEX 54.9

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: TYZ4 Just Shy Of Joint Support Ahead of Important Data

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries have pushed lower on the day, mostly confined to yesterday’s range but with 2s pushing to levels just off Monday’s post-Powell lows.
  • They lag EGBs where supply is seen weighing but underperform Gilts after a dovish Bailey.  
  • Cash yields are 1.9-2.8bps higher with increases led by 7s. 2Y yields at 3.6600% are of note, close to Monday’s 3.6677% after Powell’s push for patience for otherwise highs since Sep 12 (US PPI).  
  • 2s10s has lifted slightly to 15bps (+0.5bp) but remains within recent ranges and below ytd highs of 24.1bps.
  • TYZ4 has sat on and off session lows of 114-07+ (- 06) for over 90 minutes now, eyeing support at 114-07 (Sep 26 and Oct 2 lows) after which lies 114-00+ (Sep 4 low). Volumes at 330k are slightly above recent averages.
  • Data: Challenger job cuts Sep (0730ET), Weekly jobless claims (0830ET), S&P Global US serv/comp PMI Sep final (0945ET), Factory orders Sep (1000ET), Factory orders Aug (1000ET),
  • Fedspeak: Schmid welcome remarks (1000ET, no text), Kashkari moderates a discussion with Bostic (1040ET, no text) - see STIR bullet.
  • Bill issuance: US Tsy $95B 4W, $90B 8W bill auctions
188 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 pushed lower on the day, mostly confined to yesterday’s range but with 2s pushing to levels just off Monday’s post-Powell lows.
  • They lag EGBs where supply is seen weighing but underperform Gilts after a dovish Bailey.  
  • Cash yields are 1.9-2.8bps higher with increases led by 7s. 2Y yields at 3.6600% are of note, close to Monday’s 3.6677% after Powell’s push for patience for otherwise highs since Sep 12 (US PPI).  
  • 2s10s has lifted slightly to 15bps (+0.5bp) but remains within recent ranges and below ytd highs of 24.1bps.
  • TYZ4 has sat on and off session lows of 114-07+ (- 06) for over 90 minutes now, eyeing support at 114-07 (Sep 26 and Oct 2 lows) after which lies 114-00+ (Sep 4 low). Volumes at 330k are slightly above recent averages.
  • Data: Challenger job cuts Sep (0730ET), Weekly jobless claims (0830ET), S&P Global US serv/comp PMI Sep final (0945ET), Factory orders Sep (1000ET), Factory orders Aug (1000ET),
  • Fedspeak: Schmid welcome remarks (1000ET, no text), Kashkari moderates a discussion with Bostic (1040ET, no text) - see STIR bullet.
  • Bill issuance: US Tsy $95B 4W, $90B 8W bill auctions