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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

Weak Eurozone PMI Underpins Tsys

US TSYS SUMMARY

Weaker-than-expected Eurozone (and especially French) August prelim PMIs have underpinned global core FI, including Tsys (alongside weaker equities/stronger USD).

  • Sep 10-Yr futures (TY) up 0.5/32 at 139-18.5 (L: 139-13.5 / H: 139-20.5) - volumes have been a little light, ~200k by 0630ET.
  • A slight flattening in the curve: The 2-Yr yield is up 0bps at 0.1412%, 5-Yr is down 0.8bps at 0.2643%, 10-Yr is down 1.1bps at 0.6396%, and 30-Yr is down 1.3bps at 1.3705%.
  • We get the US's turn for August prelim PMIs at 0945ET, with Jul existing home sales at 1000ET.
  • No Fed speakers and no supply today; NY Fed buys ~$6.025B of 4.5Y-7Y Tsys.
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com