- Treasuries holding near lows after ISM Services data comes out higher than expected.
- Currently, the Dec'25 10Y contract trades -11.5 at 112-13.5 vs. 112-12.5 low, 10Y yield 4.1415% (+.0564), curves steeper - stable (2s10s +1.302 at 52.031; 5s30s +0.604 at 97.313).
- USD rallies in response to the solid prices paid data, helping EURUSD pressure earlier lows. A break below 1.1469 puts EURUSD again at the lowest level since August 1st. The response for USDJPY is again narrowing the gap with key resistance into 154.48, the weekly and reversal high.
OIL: Brent Open Interest Holds Near Record Highs but Gasoil Interest Falls
Dec-05 15:08
Daily Brent futures traded volumes have averaged below normal this week at 782k while WTI has averaged 643k as the market weighs geopolitical risks against ongoing oversupply projections.
- Aggregate Brent open interest has been holding relatively steady in recent months and currently around 3m to remain just below the record high of 3.103m seen in October.
- WTI open interest has rebounded slightly in the last couple of weeks to 1.93m after falling to the lowest since March at 1.844m on Nov. 21 but still well below a high of 2.08m in July.
- ICE Gasoil aggregate open interest has seen a steady decline since the start of November to 0.98m. The market weighs the impact of energy infrastructure strikes, and US sanctions on Russian exports while refineries gradually return from maintenance, but global diesel stocks remain below normal. Aggregate traded volumes have averaged slightly below normal at 295k this week.
- Nymex heating oil open interest has risen from a low of 0.344m last week to 0.361m with aggregate daily traded volumes below normal averaging 154k this week.
- Nymex RBOB open interest is holding just below the highest June at 0.398m with relatively low aggregate daily traded volumes of 155k.
Source: Bloomberg Finance L.P.
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US TSYS: Post-ISM Services Data React
Nov-05 15:04
- Treasuries holding near lows after ISM Services data comes out higher than expected.
- Currently, the Dec'25 10Y contract trades -11.5 at 112-13.5 vs. 112-12.5 low, 10Y yield 4.1415% (+.0564), curves steeper - stable (2s10s +1.302 at 52.031; 5s30s +0.604 at 97.313).
- USD rallies in response to the solid prices paid data, helping EURUSD pressure earlier lows. A break below 1.1469 puts EURUSD again at the lowest level since August 1st. The response for USDJPY is again narrowing the gap with key resistance into 154.48, the weekly and reversal high.
US TSYS: Post-ISM Services Data React
Nov-05 15:03
MNI: US ISM OCT SERVICES COMPOSITE INDEX 52.4
Nov-05 15:00
- MNI: US ISM OCT SERVICES COMPOSITE INDEX 52.4
- US ISM OCT SERVICES PRICES 70.0
