US TSY FUTURES: Post-PPI, Weekly Claims React
Jul-13 12:33
Knee-jerk bid after weekly claims declined 12k to 237k vs . 250k est, PPI +0.1% vs. -0.1% est, saw 10s extend highs to 112-25 (+16.5) but just as quickly reverse to 112-16 (+7.5). Curves holding steeper 2s10s +4.828 at -84.267.
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MNI: US MAY CPI 0.1%, CORE 0.4%; CPI Y/Y 4.0%, CORE Y/Y 5.3%
Jun-13 12:30
- MNI: US MAY CPI 0.1%, CORE 0.4%; CPI Y/Y 4.0%, CORE Y/Y 5.3%
- US MAY ENERGY PRICES -3.6%
- US MAY OWNERS' EQUIVALENT RENT PRICES 0.5%
US TSYS: FV/UXY Flattener Helps Push 2-/10-Year Curve Towards Post-SVB Extremes.
Jun-13 12:23
The previously covered FV/UXY flattener block helps the 2-/10-Year Tsy yield spread to fresh session extremes when it comes to the degree of inversion witnessed. The spread is still ~1bp above yesterday’s extreme, which represented the deepest level of inversion seen since the SVB-related volatility observed in March. CPI is due to cross in just under 10 minutes.
US TSY FUTURES: FV/UXY Flattener Blocked
Jun-13 12:17
Latest block trade lodged at 13:03:36 London/08:03:36 NY:
- FVU3 19.0K lots blocked at 108-11, looks like a seller.
- UXYU3 8.0K lots blocked at 119-15+, looks like a buyer.
- Would suggest an FV/UXY flattener.
