US NATGAS: Henry Hub reverses slump, pops higher after storage release
Mar-13 18:25
- Henry Hub April 25 showed continued decline this morning headed into the EIA storage release, breaking below $4.00 mmbtu for a short period, last seen on Mar. 3rd,. But that downward trend was quickly thwarted by a larger than expected storage withdrawal of 62 bcf. Estimates were in the mid to low 50’s bcf. This larger than expected draw provided upward price action with HH popping up $0.14 mmcf on the data release.
- Daily fundamentals remain unchanged from this morning’s update, except for a slight uptick of 29.4 mmcf feedgas to Freport LNG.
- Henry Hub APR 25 up 1.4% at $4.143/MMBtu
- Henry Hub MAY 25 up 1.8% at $4.214/MMBtu
- Henry Hub APR 26 up 1.7% at $4/MMBtu
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US: Majority Of GOP Voters Support Congressional Pushback To Trump
Feb-11 18:23
A new CBS/YouGov survey has found that although President Donald Trump's early actions “have been met with robust support from nation's Republicans,” this “doesn't mean they wouldn't want to see some pushback from congressional Republicans when the delegation disagrees with him.”
- CBS: “…a sizable 4 in 10 rank-and-file Republicans would have their congressional delegation support whatever Mr. Trump wants — a view largely boosted by those Republicans who identify as part of the MAGA movement.”
- CBS notes separately that 65% of Democrat voters now believe that Congressional Democrats should oppose Trump as much as possible, up from 46% in January.
- The survey suggests that the Trump administration may face opposition to its agenda when it faces legislation in Congress, with a bipartisan majority of voters comfortable with their elected officials opposing Trump's agenda.
Figure 1: Congressional Republicans’ Approach to Trump Should be… (Among Republicans)
Figure 2: Congressional Democrats’ Approach to Trump Should be too… (Democrats)
Source: CBS News/YouGov
US TSYS/SUPPLY: Review 3Y Note Auction: 1.2b Stop
Feb-11 18:04
- Treasury futures bounce briefly but remain weaker after $58B 3Y note auction (91282CMN8) 1.2bp stop, drawing 4.300% high yield vs. 4.312% WI; 2.79x bid-to-cover vs. 2.62x prior.
- Peripheral stats see indirect take-up climbs to 74.00% vs. 60.98% prior; direct bidder take-up 15.82% from 19.67% prior; primary dealer take-up 10.18% vs. 19.36% prior.
- The next 3Y auction is tentatively scheduled for March 11.
FED: US TSY 3Y NOTE AUCTION: HIGH YLD 4.300%; ALLOTMENT 41.59%
Feb-11 18:02
- US TSY 3Y NOTE AUCTION: HIGH YLD 4.300%; ALLOTMENT 41.59%
- US TSY 3Y NOTE AUCTION: DEALERS TAKE 10.18% OF COMPETITIVES
- US TSY 3Y NOTE AUCTION: DIRECTS TAKE 15.82% OF COMPETITIVES
- US TSY 3Y NOTE AUCTION: INDIRECTS TAKE 74.00% OF COMPETITIVES
- US TSY 3Y AUCTION: BID/CVR 2.79
