US NATGAS: Henry Hub Midday Update
Nov-21 17:23
Henry Hub front month responds to colder forecasts seen in early December
- Dec 25 is trading at $4.555, up 1.81% on the day.
- Jan 26 is trading at $4.717, up 1.07% on the day.
- Intraday front month volume on NYMEX is about 46,000 lots.
- The trend condition in Henry Hub futures is unchanged; it remains bullish and the recovery from Tuesday’s low reinforces a bull theme. Moving average studies have crossed and are in a bull-mode position, highlighting a dominant uptrend - for now. Sights are on 4.688, the Nov 13 high, where a break would confirm a resumption of the trend. Initial firm support is at 4.162, the 50-day EMA.
- Forecasts shifted colder in the West and Northeast for Nov. 26-30: Atmospheric G2.
- Forecasts moved colder in the middle third of the US for Dec. 1-5.
- The NOAA 6-10 day temp outlook revised considerably colder DoD. Cold temps are seen especially in the Great Lakes region.
- MNI data show feedgas demand today is 18.04 bcf/d, up about 500 mmcf/d after one of Freeport’s trains went offline yesterday, dropping nearly 700 mmcf/d. Freeport is now fully back online, showing feedgas demand exceeding the 30-day moving average.
- BNEF estimates lower 48 dry gas production at 111.14 Bcf/d, down from the previous day of 111.25 Bcf/d.
- U.S. dry gas consumption is estimated at 82.77 Bcf/d, down from the previous day of 86.39 Bcf/d.
- Pipeline exports to Mexico were estimated at 6.77 Bcf/d, down from the previous day of 6.88 Bcf/d.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
PIPELINE: Corporate Bond Update: GM Financial, Softbank Launched
Oct-22 17:15
- Date $MM Issuer (Priced *, Launch #)
- 10/22 $2B #Softbank $900M 35.5NC5.5 7.625%, $1.1B 40NC10 8.25% (includes E750M 37NC7)
- 10/22 $1.5B #Alberta 10Y SOFR+81
- 10/22 $1B Rep of Korea WNG 5Y +17
- 10/22 $1B #GM Financial 3Y +78
- 10/22 $Benchmark Dominican Republic 10Y 6.0%
- 10/22 $Benchmark Pershing Square 7Y investor calls
US TSYS/SUPPLY: Review 20Y Bond Auction
Oct-22 17:04
Treasury futures gain slightly (TYZ5 113-24 +0.0) after $13B 20Y Bond auction re-open (912810UN6) stopped through - drawing a high yield of 4.506% vs 4.517% WI at the cutoff; 2.73x bid-to-cover vs. 2.74x prior.
- Peripheral stats: indirect take-up dips to 63.63% vs. 64.6% prior; direct bidder take-up 26.33% from 27.9% prior; primary dealer take-up rises to 10.04% vs. 7.5% prior.
FED: US TSY 19Y-10M BOND AUCTION: HIGH YLD 4.506%; ALLOT 56.07%
Oct-22 17:02
- US TSY 19Y-10M BOND AUCTION: HIGH YLD 4.506%; ALLOT 56.07%
- US TSY 19Y-10M BOND AUCTION: DEALERS TAKE 10.04% OF COMPETITIVES
- US TSY 19Y-10M BOND AUCTION: DIRECTS TAKE 26.33% OF COMPETITIVES
- US TSY 19Y-10M BOND AUCTION: INDIRECTS TAKE 63.63% OF COMPETITIVES
- US TSY 19Y-10M BOND AUCTION: BID/COV 2.73
