MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: US OCT CONSTRUCT SPENDING +0.4%

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

Waiting-And-Seeing On Stimulus, Fed

US TSYS SUMMARY

A solid if unexciting session for Treasuries, with most gains made overnight on no-deal Brexit concerns.

  • We had modest follow through in U.S. hours as markets considered potential for a government shutdown at midnight, and a continued COVID fiscal impasse.
  • Slightly sub-par volume too, with a real wait-and-see feel on political developments and next week's FOMC.
  • Curve mixed, with the belly outperforming. The 2-Yr yield is down 2bps at 0.117%, 5-Yr is down 3.5bps at 0.3512%, 10-Yr is down 2.5bps at 0.8816%, and 30-Yr is down 1.2bps at 1.6151%.
  • Mar 10-Yr futures (TY) up 8.5/32 at 138-05 (L: 137-26.5 / H: 138-07)
  • Attention has also been on equities which continue to stumble after recent all-time highs; in contrast data (mildly weaker-than-expected PPI, strong beat in UMichigan sentiment) didn't really move the needle significantly.
  • That said, plenty of data next week, which will provide greater insight into the economic impact of the 2nd wave of the pandemic: retail sales, flash PMI, housing starts, and industrial production all on the docket.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.