EM ASIA CREDIT: Philippines (PHILIP): New USD bookstats
(Baa2/BBB+/BBB) "BOOKSTATS: Philippines Gets >$5.95b Orders For Three-Parts Bond" - BBG * New deal...
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MNI: CHINA PBOC CONDUCTS CNY67.3 BLN VIA 7-DAY REVERSE REPO MON
- CHINA PBOC CONDUCTS CNY67.3 BLN VIA 7-DAY REVERSE REPO MON
CHINA SETS YUAN CENTRAL PARITY AT 7.0572 MON VS 7.0550
- CHINA SETS YUAN CENTRAL PARITY AT 7.0572 MON VS 7.0550
US TSYS: Yields Edge Higher, TYH6 Below Key Tech Level
US bond futures are weaker in the morning trade in Asia, with the 10-Yr down -03+ to 112-13+. The losses take TYH6 below the 100-day EMA of 112-14 when it spent most of the beginning of December. Should TYH6 hold below the 100-day overnight, downside resistance will come from the 200-day EMA of 111-31.
Cash is weak Monday with long end yields underperforming, on low volumes.
- The 2-Yr is up +0.4bps at 3.49%
- The 5-Yr is up +0.7bps at 3.702%
- The 10-Yr is up 1bps at 4.159%
- The 30-Yr is up +1.1bps at 4.837%
Tonight the focus for bond markets will be a US$86bn 13-week and US$77bn 26-week bill auction alongside a US$69bn 2-Year note auction. The last 2-Yr bill auction on November 25 drew a high yield of 3.489% and a bid to cover of 2.68 x, which was the highest over the previous three auctions.
