(USTs modestly higher on below avg volumes)while WE slept
thebondbeat.substack.com
Good morning … shorter than short note as I’m just back in seat and going thru inbox. Jumping right in … here is a snapshot OF USTs as of 705a: … HERE is what this shop says be behind the price action overnight… … WHILE YOU SLEPT Treasuries have been led modestly higher by intermediates to start the new week with bank earnings and ratings actions appearing to be top-of-mind alongside debt-ceiling X-date handicapping (see Wrightson's latest update in text below). DXY is lower (-0.17%) while front WTI futures are little changed (-0.2%). Asian stocks were mixed (Chinese and China-linked exhanges lower), EU and UK share markets are little changed while ES futures are showing -0.22% here at 6:40am. Our overnight US rates flows saw yet another sideways session during Asian hours with some buying in intermediates seen at the start of the week amid very weak overall volumes. It was a similar story in London's AM hours with Treasuries in a 2bp range. Banks were a light buyer, on balance, with real$ continuing to pick away at the shortest maturity Bills, avoiding the X-date window maturities. Overnight Treasury volume was ~60% of average overall.
(USTs modestly higher on below avg volumes)while WE slept
(USTs modestly higher on below avg…
(USTs modestly higher on below avg volumes)while WE slept
Good morning … shorter than short note as I’m just back in seat and going thru inbox. Jumping right in … here is a snapshot OF USTs as of 705a: … HERE is what this shop says be behind the price action overnight… … WHILE YOU SLEPT Treasuries have been led modestly higher by intermediates to start the new week with bank earnings and ratings actions appearing to be top-of-mind alongside debt-ceiling X-date handicapping (see Wrightson's latest update in text below). DXY is lower (-0.17%) while front WTI futures are little changed (-0.2%). Asian stocks were mixed (Chinese and China-linked exhanges lower), EU and UK share markets are little changed while ES futures are showing -0.22% here at 6:40am. Our overnight US rates flows saw yet another sideways session during Asian hours with some buying in intermediates seen at the start of the week amid very weak overall volumes. It was a similar story in London's AM hours with Treasuries in a 2bp range. Banks were a light buyer, on balance, with real$ continuing to pick away at the shortest maturity Bills, avoiding the X-date window maturities. Overnight Treasury volume was ~60% of average overall.