(USTs unch on 50% avg volumes)while WE slept; revised FED call, stock jockeys (& all macro tourists) watchin' curve, money flooding in TO money market mutual funds & bonds forming 'tradeable lows'
thebondbeat.substack.com
Good morning … … 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 are close to UNCH as holiday-like conditions prevailed in Asia, risk appetite still on the mend, led by tech (HSTECH +0.67%; CSI 300 +0.16%). Japan shares slightly pared gains after news of restrictions on chip exports (Nikkei +1.13%). Modest selling was seen in long-end, but overall activity was limited. Month-end extension expectations also seem uninspired, with treasuries heading into the London open near Tokyo's start-of-day levels. Volumes at 50% averages. In Europe, there was a mixed reaction to French and EZ CPI, and German employment data, the net impact being peripheral outperformance (BTP 5s -6.5bps) and EURUSD weakness (-0.3%). DAX futures are +0.4% and SPX futures are +0.2% here at 7am.
(USTs unch on 50% avg volumes)while WE slept; revised FED call, stock jockeys (& all macro tourists) watchin' curve, money flooding in TO money market mutual funds & bonds forming 'tradeable lows'
(USTs unch on 50% avg volumes)while WE slept…
(USTs unch on 50% avg volumes)while WE slept; revised FED call, stock jockeys (& all macro tourists) watchin' curve, money flooding in TO money market mutual funds & bonds forming 'tradeable lows'
Good morning … … 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 are close to UNCH as holiday-like conditions prevailed in Asia, risk appetite still on the mend, led by tech (HSTECH +0.67%; CSI 300 +0.16%). Japan shares slightly pared gains after news of restrictions on chip exports (Nikkei +1.13%). Modest selling was seen in long-end, but overall activity was limited. Month-end extension expectations also seem uninspired, with treasuries heading into the London open near Tokyo's start-of-day levels. Volumes at 50% averages. In Europe, there was a mixed reaction to French and EZ CPI, and German employment data, the net impact being peripheral outperformance (BTP 5s -6.5bps) and EURUSD weakness (-0.3%). DAX futures are +0.4% and SPX futures are +0.2% here at 7am.