US TSYS: Tsys Mixed Late Friday, Buffeted By Crude Surge, Stocks in Retreat
Oct-16 19:09
* Treasuries look to finish mixed Friday, curves twist steeper as short end rates outperformed, 2s...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
FOREX: DXY Rises to Strongest Level Since July 31, USDCHF Fresh Cycle Highs
Sep-16 19:06
- Dollar strength extends as the market continues to assess the higher-for-longer dot plot within the summary of economic projections and Chair Warsh says that this summer's inflation readings "do not tell me that underlying trends have meaningfully improved”.
- The DXY is now ~1% higher compared to last Friday’s close. The 50-day EMA, currently intersecting at 99.64 has been working as a very significant pivot over the past few months, and a daily/weekly close above this level and the Aug high of 100.08 could spur further topside interest from momentum accounts.
- The negative spillover to risk sentiment/equities sees the likes of NZD and SEK be the relative underperformers at the margin, although the greenback rally has been broad-based.
- Notably, USDCHF has risen to a fresh cycle high, testing 0.8250 at typing. Spot levels represent the highest print for the pair since June 2025. Bull channel resistance is located at 0.8300, before the 50% retracement of the 2025-2026 price swing at 0.8403.
US TSYS: Extending Lows Yet Again, 10Y Yield Flirting w/ 5%
Sep-16 19:01
- Treasury futures are extending past overnight lows with Chair Warsh taking final question from press.
- TYZ6 trades 105-25 (-5), 10Y yld 5.0061% (+0.0042), sights are on 105-10+, the Oct 19 ‘23 low on the continuation chart.
FED: Warsh Asked on the Labor Market
Sep-16 19:00
- Warsh is asked whether the Fed will have to see a weaker labor market in order to bring inflation down - he repeats previous comments that "I don't believe that we need to do harm to the labor markets to achieve our objective. I don't believe that the two parts of our mandate, price stability and full employment, are working at cross purposes over the medium term."
- Press conference is over - one of the shortest in memory.
