Free Trial

Weaker, Off Post-FOMC Lows

US TSY FUTURES CLOSE

Rate futures extended session lows after the FOMC but bounced as Fed Chairman Powell discussed the policy annc and took media questions. Powell did downplay the DOTS as "not a great forecaster of future rate moves" and need to be taken with a "big grain of salt". Any future lift-off will remain "outcome based and not time based." Large sell-blocks noted in 5Y futures, -15k from 123-19.5 to -17.75 before trading down to 123-07.5 low. Yield curves mixed with longer pares flatter after the bell:

  • 3M10Y +6.79, 153.732 (L: 145.249 / H: 154.34)
  • 2Y10Y +3.787, 136.509 (L: 131.499 / H: 137.783)
  • 2Y30Y -2.692, 199.442 (L: 198.944 / H: 203.329)
  • 5Y30Y -9.187, 131.23 (L: 130.452 / H: 141.487)
  • Current futures levels:
  • Sep 2Y down 2.625/32 at 110-7.375 (L: 110-06.75 / H: 110-10.5)
  • Sep 5Y down 17.75/32 at 123-12.25 (L: 123-07.5 / H: 124-00)
  • Sep 10Y down 27.5/32 at 131-21.5 (L: 131-17.5 / H: 132-20.5)
  • Sep 30Y down 20/32 at 157-29 (L: 157-12 / H: 158-31)
  • Sep Ultra 30Y down 3/32 at 188-3 (L: 187-12 / H: 189-07)

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.