MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1894 Thurs; -1.38% Y/Y

MNI BRIEF: Bank of Korea Cuts Policy Rate to 3.00%: Press

MNI: BANK OF KOREA CUTS RATE TO 3.00%: PRESS

MNI BRIEF: Hungarian Banks Strong, But Risks Remain - NBH

MNI China Daily Summary: Wednesday, November 27

US EIA:NAT GAS STORAGE -2 BCF TO 3,967 BCF NOV 22 WK

EZ/UK Bond Supply Calendar: Italy Auction, Finland ORI Thurs

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

US TSYS: Underperforming A Strong Pre-Budget Gilts Rally

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries have pushed higher ahead of important US data, having faded some stronger European data with perhaps greater spillover from a strong rally in Gilts ahead of a highly anticipated UK Budget.
  • Cash yields are 1.5-3.8bp lower on the day, flattening with 2s10s down to 14bps (-2bp) back near lows for the week.
  • TYZ4 trades at 111-02 (+10) off an earlier 111-04+, on strong cumulative volumes of 465k that have kicked relatively higher in London hours. Resistance is seen at 111-14 (Oct 25 high) whilst the bounce is deemed corrective with support at 110-09+ (Oct 29 low).
  • Today’s macro focus is on ADP employment before the Q3 advance release for GDP/PCE. Another heavy earnings slate sees additional attention, albeit headlined by both Microsoft and Meta after market.
  • Data: MBA mortgages Oct 25 (0700ET), ADP employment Oct (0815ET), GDP/PCE Q3 advance (0830ET), Pending home sales Sep (1000ET)
  • Bill issuance: US Tsy $64B 17W Bill auction (1130ET)
154 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 higher ahead of important US data, having faded some stronger European data with perhaps greater spillover from a strong rally in Gilts ahead of a highly anticipated UK Budget.
  • Cash yields are 1.5-3.8bp lower on the day, flattening with 2s10s down to 14bps (-2bp) back near lows for the week.
  • TYZ4 trades at 111-02 (+10) off an earlier 111-04+, on strong cumulative volumes of 465k that have kicked relatively higher in London hours. Resistance is seen at 111-14 (Oct 25 high) whilst the bounce is deemed corrective with support at 110-09+ (Oct 29 low).
  • Today’s macro focus is on ADP employment before the Q3 advance release for GDP/PCE. Another heavy earnings slate sees additional attention, albeit headlined by both Microsoft and Meta after market.
  • Data: MBA mortgages Oct 25 (0700ET), ADP employment Oct (0815ET), GDP/PCE Q3 advance (0830ET), Pending home sales Sep (1000ET)
  • Bill issuance: US Tsy $64B 17W Bill auction (1130ET)