Quick note

July 29, 2019

–Longer maturities were little changed on Friday with tens at 2.079% (from 2.076).  However, the front end of the eurodollar curve was heavy with reds -3.0 on the day.  EDM0 and EDU0 weakest on the board closing -4.0.  The event of the week should be Wednesday’s FOMC announcement and press conference, followed by employment data on Friday.  Dallas Fed today, expected -5.0 from -12.1 last.  

–Interesting story on ZH citing Morgan Stanley research showing that US data and global PMIs are now worse than they were in 2007 just prior to the first insurance cut.https://www.zerohedge.com/news/2019-07-28/now-compared-last-time-us-entered-recession-it-couldnt-be-worse
–There is also a piece in Bloomberg noting that Treasury auctions on Aug 6-8 of 3. 10. 30’s will total $84 billion.  Today at 3:00pm the Treasury is set to release its quarterly borrowing projections.

https://finance.yahoo.com/news/trump-debt-binge-puts-treasury-210000543.htmlhttps://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Pages/Latest.aspx

Posted on July 29, 2019 at 5:07 am by alexmanzara · Permalink
In: Eurodollar Options

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