Good morning … here is a snapshot OF USTs as of 810a (hey, it’s my day off…): … HERE is what another shop says be behind the o/n price action, you know, … WHILE YOU SLEPT Treasuries are higher and the curve flatter this morning after some EU regions reported small CPI beats, leading to modest EGB outperformance so far. DXY is lower (-0.3%) while front WTI futures are too (-2.3%). Asian stocks were mostly higher (China modestly lower), EU and UK share markets are all in the green (SX5E +1.5%) while ES futures are showing +0.8% here at 7am. Our overnight US rates flows saw a more muted Asian session with on-balance buying from real$ and credit hedgers noted (concentrated in 7's to 30's). Our London desk reports muted flows too with net better selling with Spanish inflation above 10% still, despite coming in below expectations.
while we slept; toppin' 10s
while we slept; toppin' 10s
while we slept; toppin' 10s
Good morning … here is a snapshot OF USTs as of 810a (hey, it’s my day off…): … HERE is what another shop says be behind the o/n price action, you know, … WHILE YOU SLEPT Treasuries are higher and the curve flatter this morning after some EU regions reported small CPI beats, leading to modest EGB outperformance so far. DXY is lower (-0.3%) while front WTI futures are too (-2.3%). Asian stocks were mostly higher (China modestly lower), EU and UK share markets are all in the green (SX5E +1.5%) while ES futures are showing +0.8% here at 7am. Our overnight US rates flows saw a more muted Asian session with on-balance buying from real$ and credit hedgers noted (concentrated in 7's to 30's). Our London desk reports muted flows too with net better selling with Spanish inflation above 10% still, despite coming in below expectations.