News Results

  1. BULLET: US TSYS SUMMARY: Pt II: Tsys ended Mon lower in......
    Market News Intl Fixed Income Bullets | 03:39 PM EDT

    US TSYS SUMMARY: Pt II: Tsys ended Mon lower in quiet pre-month-end trading before Tues, March 31st. T-bills got bought to beautify balance sheets, with other minor position tweaks too; some bills had negative rate offers. US 10-year note had a Monday range of 1.975% high (4:28am ET) and 1.942% low yield (10:42am ET). US mutual fund industry watches as Fidelity polls investors on switching 3 prime funds to govt-only funds, see 2;42pm ET Main Wire Story. - The 2-year note ended at 0.587% (99-26+) from 0.583% (99-266) - The 3-year note ended at 0.919% (100-07+) from 0.917% (100-076) - The 5-year note ended at 1.416% (99-256) from 1.417% (99-25+) - The 7-year note ended at 1.750% (100-00) from 1.748% (100-00+) - The 10-year note ended at 1.960% (100-11+) from 1.948% (100-15) - The 30-year bond ended at 2.553% (98-28+) from 2.526% (99-14+) - The 2/5-year curve steepened to +82.9 bps from +83.4 bps - The 2/10-year curve steepened to +137.3 bps from +136.5 bps - The 2/30-year curve steepened to +196.6 bps from +194.3 bps - The 5/30-year curve steepened to +1137.7 bps from +110.9 bps

  2. BULLET: US TSYS SUMMARY: Treasuries ended Mon lower after....
    Market News Intl Fixed Income Bullets | 03:21 PM EDT

    US TSYS SUMMARY: Treasuries ended Mon lower after 1) Morning data-driven flows: early Tsys selling then dip buying after Feb 0.4% personal income, 2way flow around 3% NAR Feb pending home sales, then dip buying on weak Dallas Fed March Mfrg index 2) Tsys began mildly higher, flatter, then receded; Tsys futures underperformed amid steeper curve 3) Tsy 2Y Futures saw massive midday sale -60k ($12B equivalent; some estimated at -40K or $8B size) in TUM from 109-17 to 109-16.2; 4) Overnight buy QE trade after China hints at easier policy, Austrln mkts digest MNI Insight story saying rate cut possible 5) EGBS aided by QE buys 6) Tsys cd be quiet til Sun tho Fri NFP day; good govt bond month-end extnsns 7) Light technical bid in June 10Y at 128-16 down to 128-15 8) CME block of 5,300 EDM6/H7 (Red Pack:2Y proxy) bought at -1,8:33 am ET 9) Dealers short June 5Y Tsys futures on curve Mon as such rich on qtrend rebalncs as investors moved from cash Tsys to futures 10) MBS tight: better real, fast$ buying and big $2B Fed Op; short squeeze by 1 large acct in 30Y 4.5 MBS roll goes into 2nd wk 12) US swaps favored long 10Y sprds on fly, 5/30Y flatteners into mo-end; carryover vs pvs wk: early bid in 5s/30s spd flatteners, outright 10Y swap wideners

  3. BULLET: US TSY FUTURES CLOSE: Finish lower/off session.......
    Market News Intl Fixed Income Bullets | 03:10 PM EDT

    US TSY FUTURES CLOSE: Finish lower/off session lows, curve steeper all session. Latest Jun settles below -- Jun Ultra bond futures down 28/32 at 169-19, 169-10 low/170-14 high -- Jun T-bond futures down 30/32 at 163-15, 163-08 low/164-08 high -- Jun 10-yr futures down 3/32 at 128-19, 128-15 low/128-24.5 high -- Jun 5-yr futures down .7/32 at 120-00.2, 119-30.2 low/120-04.2 high -- Jun 2-yr futures down 1.25/32 at 109-16.2, 109-16.2 low/109-18.2 high

  4. BULLET: US TSYS: /FUNDS: The U.S. mutual fund industry -.....
    Market News Intl Fixed Income Bullets | 02:50 PM EDT

    US TSYS: /FUNDS: The U.S. mutual fund industry - and Tsys traders -- will be watching closely, as Fidelity mailed out proxy vote information to see how investors feel about converting 3 prime money market funds into government-only money market funds. The conversion will be voted on May 12th at a special shareholder meeting. Federated meanwhile will be changing the structure of some of its money market funds too, such as adopting a 60-day maturity limit in certain funds. Treasuries traders are watching the matter closely, as it could fuel more demand for the front end Treasuries, said observers. The switch at Fidelity would affect three funds totalling $129 billion. For more please see the 2:42p.m. ET Main Wire Story, "Industry Eyes Fidelity Investor Vote on Govt Money Fund Move."

  5. BULLET: US TSYS: MS analysts said investors should "cover....
    Market News Intl Fixed Income Bullets | 02:22 PM EDT

    US TSYS: MS analysts said investors should "cover underweight positions in the belly of the Treasury curve. But we do not suggest overweight positions either. While FOMC participants moved 2016 and 2017 dots lower, the market still prices a much shallower path of rate hikes between 2016 and 2017, making the belly still appear rich to us."

  6. BULLET: US TSYS: Treasuries waffle around, long end Tsys.....
    Market News Intl Fixed Income Bullets | 02:04 PM EDT

    US TSYS: Treasuries waffle around, long end Tsys heaviest with mild losses on 2Y to 7Y notes. But T-bills see buying and some issues have negative rate offer amid "balance sheet window-dressing" needs, said one trader. "The rate is driven because of the balance sheet story" as mkt players sell riskier assets to be holding safe-assets at quarter-end, when balance sheets reflect the latest holdings, he said.

  7. BULLET: OUTLOOK: Global cal for Tuesday (GMT/ET)- 31-Mar ....
    Market News Intl Fixed Income Bullets | 01:46 PM EDT

    OUTLOOK: Global cal for Tuesday (GMT/ET)- 31-Mar 0000 / 2000* NZ Mar Outlook 31-Mar 0030 / 2030* Australia Feb RBA Private Sector Credit 31-Mar 0130 / 2130* Japan Feb preliminary wages 31-Mar 0500 / 0100 Japan Feb housing starts 31-Mar 0700 / 0300 Germany Feb retail sales, ILO employment chg 31-Mar 0830 / 0330 UK Q4 GDP, BOP, Jan services index 31-Mar 0745 / 0345 France Feb consumer spending, PPI 31-Mar 0800 / 0400 Spain Feb retail sales 31-Mar 0855 / 0455 Germany Mar unemployment 31-Mar 1000 / 0600 Italy Mar flash HICP 31-Mar 1000 / 0600 EMU Feb unemployment 31-Mar 1000 / 0600 EMU Mar flash HICP 31-Mar 1230 / 0830 Canada Jan Payroll employment 31-Mar 1230 / 0830 Canada Jan Monthly real GDP by industry

  8. BULLET: US TSY OPTIONS: Sources say latest flow includes ....
    Market News Intl Fixed Income Bullets | 01:43 PM EDT

    US TSY OPTIONS: Sources say latest flow includes -- -3,000 TYM 129/130 1x2 call spds at 17/64

  9. BULLET: US TSYS: Treasuries see some quarter-end demand......
    Market News Intl Fixed Income Bullets | 01:41 PM EDT

    US TSYS: Treasuries see some quarter-end demand for certain T-bills with the one-month bill (Apr 23 maturity) at 0.005% bid/-0.005% offer and May 14th bill at 0.005% bid/-0.005% offer.

  10. BULLET: US TSYS: There has been long end Tsy futures.........
    Market News Intl Fixed Income Bullets | 01:26 PM EDT

    US TSYS: There has been long end Tsy futures selling in afternoon action, said traders.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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