tra le notizie: asta di $24 milardi di 2y t-note con il dollaro alle pezze e il fatto che in questa settimana alcune banche di NY chiuderanno il book dell'anno in corso, per cui potrebbero vedersene delle belle
U.S. Treasuries steady, two-year auction looms
LONDON, Nov 23 (Reuters) - U.S. Treasury prices were little
moved on Tuesday, with focus turning to this session's sale of
$24 billion of new two-year government paper.
October existing home sales data at 1500 GMT are the only
economic numbers on the calendar and dealers said the auction
should attract more interest as this will be another test of
foreign central bank demand for U.S. debt.
"The auction of $24 billion of two-year T-Notes comes at an
interesting time as short-dated paper is very sensitive to
currency moves and the dollar had hit a record low against the
euro in recent days," said a senior trader in Madrid.
Dollar weakness has mixed consequences for U.S. Treasuries
-- it can discourage foreign investors from holding dollar
denominated debt, but at the same time, the dollar's fall could
trigger intervention from Asian central banks to prevent an
export-damaging rise in the value of their own currencies.
Any dollars bought in currency intervention are likely to be
re-invested in the U.S. bond market, dealers say.
At 1030 GMT, the two-year notes price was steady with a
yield of 2.95 percent <US2YT=RR>, hardly changed from levels
seen in late New York trade on Monday. The 10-year note
<US10YT=RR> was yield was also steady, trading at 4.19 percent.
"The 2-year auction should go down well," said Padhraic
Garvey, head of investment grade strategy at ING Financial in
Amsterdam. "It is low duration and Asian central banks will lap
this up."
The trader said the two-year bond yield had gained up to
three basis points as the auction neared, depressing prices.
"The market should remain stable with a selling bias from
here as we have in any case a thin market ahead of the Thursday
and Friday public holidays in the U.S. and some New York banks
are this week closing their books for the year," he said.
Treasury prices were mostly higher on Monday as investors
bet longer-dated debt would outperform the short-end in an
environment of rising official interest rates.
Five-year yields <US5YT=RR> were at 3.58 percent, and the
ultra-long 30-year debt yield <US30YT=RR> was at 4.85 percent.
The December T-note future <TYZ4> was at 112-11/32, down 3/32.
Treasuries were steady against Bunds, with the 10-year yield
gap holding at 47 basis points. The 10-year dollar swap spread
stood at 39 basis points, compared with 40.25 basis points in
the U.S. on Monday.
((Reporting by Dhara Ranasinghe, Editing by Stephen Nisbet;
Reuters Messaging:
[email protected], +44
207542 6745))
--------------MARKET SNAPSHOT AT 1033 GMT ------------------
Futures continuous contract basis
30-year T-Bond 113-03/32 (-07/32)
10-year T-Note 112-11/32 (-03/32)
Change vs Current
Nyk yield
Three-month bills 2.16 (+0.04) 2.202
Six-month bills 2.37 (+0.03) 2.427
Two-year notes 99-05/32 (-00/32) 2.956
Five-year notes 99-21/32 (-01/32) 3.574
10-year notes 100-16/32 (-02/32) 4.188
30-year bonds 107-24/32 (-01/32) 4.849