US TSYS: Post-PPI, Weekly Claims React
Feb-13 13:37
* Decent two-way trade as Treasury futures gap higher after lower than expected weekly and continu...
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BUNDS: Moving off the lows with the EUR post US PPI
Jan-14 13:36
- Just a 16 ticks initial gain for Bund after the US PPI comes below consensus, still fairly limited moves in Europe, with the main focus on the US CPI Tomorrow.
- The EUR and Estoxx have also found bids post data, but they are slowly fading back.
US TSYS: Post-PPI React
Jan-14 13:33
- Treasuries gap higher after PPI data for December comes out lower than expected. Tsy Dec'25 10Y trades up to 107-18.5 (+11), well below initial technical resistance at 108-21.5/109-06 (20-day EMA / High Dec 31), before scaling back to 107-16.5 last
- Curves remain mixed, 2s10s -.380 at 39.263, 5s30s +2.110 at 38.411. 10Y yield slips to 4.7471% low.
UK: Chancellor-We Will Meet Fiscal Rules At All Times
Jan-14 13:26
Chancellor of the Exchequer Rachel Reeves has delivered a short statement in the House of Commons following her trip to China over the weekend. Says “Security and economic growth go hand in hand...If we do not engage with China we cannot raise our real concerns.” The main focus will be on the chancellor's response to questions on the state of public finances and the ongoing financial market jitters hitting UK assets. Shadow chancellor Mel Stride says on the spike in borrowing costs and falling the pound “This is a crisis made in Downing Street,”.
- Livestream can be found here.
- Reeves: "We have seen global economic uncertainty play out over the past week...I acknowledge the economic headwinds facing the UK."
- Reeves: "We remain committed to [the gov'ts] fiscal rules...we will meet them at all times".
