HYBRIDS: Hybrids: Week in Review

Aug-29 12:43

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* Japan Tobacco extended its Hybrid deck with an any-and-all Tender of the NC26 combined with a ne...

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US: Trump Post on the US GDP and level of Rates

Jul-30 12:40

Donald J. Trump

@realDonaldTrump

2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! “Too Late” MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!

US TSYS: Post-Core PCE, GDP React

Jul-30 12:34
  • Fast two-way flow -- Treasury futures bounce then extend lows after higher than expected GDP and Core PCE figures. Tsy Sep'25 10Y futures currently trades -6.5 at 111-05 (111-03.5 low, 111-14.5 high).
  • Key support is 110-08+, the Jul 14 and 16 low. Clearance of this level would reinstate a bearish theme. First support is at 110-19+, the Jul 24 low. Resistance at 111-13+, the Jul 10 high, has been pierced. A clear break of it would highlight a stronger reversal and open 111-28, the Jul 3 high.
  • Curves mildly flatter now: 2s10s -0.091 at 44.854, 5s30s -0.507 at 95.021
  • New pullback lows for EUR/USD as the greenback builds again on the better-than-expected GDP headline. EUR/USD comfortably through yesterday's lows to open 1.1454 as the next downside target.

MNI: US Q2 NOM PCE +1.4%

Jul-30 12:30
  • MNI: US Q2 NOM PCE +1.4%
  • US Q2 REAL FINAL SALES TO PRIVATE DOMESTIC PURCH +1.2%
  • US Q2 PCE PRICE INDEX +2.1%
  • US Q2 CORE PCE PRICE INDEX +2.5%