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What to Watch: UK Politics, Tsy Bills Sale


Tsys trading firmer, near late overnight session highs. Tsys drew sell interest after new chancellor of the Exchequer Jeremy Hunt confirmed almost all measures from the 23 September mini-budget will be reversed following weeks of market turbulence.
Dec 30Y futures climbed to 124-21 high after the recent annc (30YY slipped to 3.9277% low), but have trimmed since gains as markets continue to digest the new UK Chancellor's statement. PM Truss spox says she will not resign - Comes as four Conservative MPs have now openly called for Truss to go.

  • Limited data today: Empire Manufacturing (-1.5, -4.0) at 0830ET; IP/Cap-U, Net TIC flows on tap Tuesday.
  • US Tsy auctions: $57B 13W, $45B 26W bill auctions at 1130ET
  • No scheduled Fed speakers
  • Equity earnings: Bank of NY Mellon (BK) and Bank of America (BAC) both beat estimates, waiting on Charles Schwab (SCHW) to annc ahead the equity open.

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