US TSYS: Minor Moves On Hassett And Then Durable Goods
May-27 12:38
Treasuries have ticked a little higher on the preliminary April durable goods report, with overall orders not quite as weak as expected but core orders more notable as they surprisingly slipped -1.3% M/M (cons -0.1%) with only a partial offset from an upward revised 0.3% (initial 0.1%).
TYM5 at 110-08 is back around where it was before it nudged 1-2 ticks lower shortly before the durables release to ~110-06 on NEC’s Hassett saying there could be more trade deals announced this week and that tariffs could go to 10% or less for some countries with good offers.
Cash yields are 0.6-6.3bp lower on the day, with 30s leading the declines on the previously discussed potential Japan MoF bond issuance composition tweaks.
SOFR: Outright call seller
May-27 12:34
SFRN5 96.12c, sold at 3.75 in 2k vs 95.87.
MNI:US APR DURABLE NEW ORDERS -6.3%; EX-TRANSPORTATION +0.2%
May-27 12:30
MNI:US APR DURABLE NEW ORDERS -6.3%; EX-TRANSPORTATION +0.2%
US MAR DURABLE GDS NEW ORDERS REV TO +7.6%
US APR NONDEF CAP GDS ORDERS EX-AIR -1.3% V MAR +0.3%