Fixed Income News Results

  • BULLET: JGBS: The JGB curve steepened yesterday ahead of.....

    JGBS: The JGB curve steepened yesterday ahead of the BoJ today and the 2-Year JGB auction tomorrow, as sellers took the upper hand beyond the belly. JGB's finished lower on risk on sentiment, Japanese stocks hit the highest in a month. - US tsys rose on the session, unconvinced by Trump's tax plan, but JGB's only rose modestly. - Barclays Opening Call: "Today could see buyers take the upper hand at the start of trade after the rise in US yields and JPY depreciation took a breather overnight. The BoJ will wrap up its two-day monetary policy meeting today and we expect it to leave policy intact by a majority decision. In the quarterly Outlook Report, to be released at the end of the meeting, we believe real GDP growth forecasts are likely to be largely unchanged from the January report (+1.5% for FY17; +1.1% for FY18), while the core CPI inflation projections are revised down, especially for FY17 (January report: +1.5% for FY17; +1.7% for FY18). We expect the BoJ to reduce the pace of its JGB buying to around JPY60trn/year by end-2017, but do not expect any changes to the official guideline of about JPY80trn/year at today's meeting."

  • BULLET: US TSY/RECAP: Treasuries ended choppy Wed higher.....

    US TSY/RECAP: Treasuries ended choppy Wed higher after late short-covering, FX-tied buying, dip buying; buying on view Trump tax plan might not stimulate economy as much as hoped. Followed heavy intermittent Tsys sales especially in 10Y Tsys futures, 2way flows. NEC Cohn: tax plan takes seven tax brackets to three: 10%, 25%, 35%. Mnuchin said will try to do tax reform this year. - Tsy had strong $15B 2Y FRN auction: 7bp discount margin; good 62.8% indirects, light 0.33% directs, small 36.95% dealers. But $34B 5Y sale mixed amid more uncertainty: 1.875% rate, mildly soft 57.3% indirects, in-range 5.3% directs, left chunky 37.4% for dealers. - Tsys began lower after earlier higher price, then heavy TYM futures sales on Tsy Secy Mnuchin on CNBC on tax plan. Rates seesawed all day amid risk-on/risk-off moods. Post-auction redistribution 5Y sales. - T-Notes open Asia at 125.19, 10-Year yield last 2.304%.

  • Treasury yields slip from 2-week highs as Trump tax plan unveiled

    Treasury prices rose, and yields declined, as bond investors' expressed doubts about the White House's ability to push through an ambitious tax plan, which includes a corporate tax cut to 15% from 35% for top payers, through Congress. The yield on the 10- year Treasury note fell 1.8 basis points to 2.312%, after earlier pushing above important chart resistance at 2.32%. Bond prices move in the opposite direction of yields; one basis point is one hundredth of a percentage point.

  • BOND REPORT: Treasury Yields Slip From 2-week Highs As Trump Tax Plan Unveiled

    Treasury prices rose, and yields declined, as bond investors' expressed doubts about the White House's ability to push through an ambitious tax plan, which includes a corporate tax cut to 15% from 35% for top payers, through Congress. The yield on the 10- year Treasury note fell 1.8 basis points to 2.312%, after earlier pushing above important chart resistance at 2.32%. Bond prices move in the opposite direction of yields; one basis point is one hundredth of a percentage point.

  • Netflix stock is expected to taper off, why not try its bonds instead?

    Streaming giant priced a 1.3 billion euro 10- year bond issue Wednesday, and one research firm thinks its a buy. Equity analysts are taking the view that streaming giant Netflix Inc.' s shares have little room for gains, but do the company's new bonds offer better value? Netflix (NFLX) stock has gained more than 63% in the last 12 months, and the average stock price target of analysts polled by FactSet is about 17% below its current trading level.

  • BULLET: US TSYS: Treasuries still creeping higher, 10-year...

    US TSYS: Treasuries still creeping higher, 10-year note is at 2.305% amid short-covering, weaker US$/yen.

  • TREASURIES-Prices edge higher as Trump tax reform falls flat

    U.S. Treasury prices rose on Wednesday, reversing steep losses sustained the last few sessions, as President Donald Trump unveiled a tax reform plan that largely underwhelmed the market.

  • BULLET: US TSY FUTURES CLOSE: Modestly higher after the......

    US TSY FUTURES CLOSE: Modestly higher after the bell, off early session highs following several round trips around steady in the first half. Rates inched higher following Mnuchin/Cohn tax briefing, braod strokes/details later, next up spending stop-gap bill. Current futures levels: * Jun Ultra bonds up 10/32 at 162-16 (161-18L/162-22H) * Jun 30-yr Bond futures up 8/32 at 152-21 (151-30L/152-26H) * Jun 10-yr futures up 4.5/32 at 125-17.5 (125-07L/125-19H) * Jun 5-yr futures up 2.5/32 at 118-10.25 (118-03.75L/118-10.75H) * Jun 2-yr futures up 1/32 at 108-09.5 (108-07.75L/108-09.75H)

  • BULLET: US TSY FUTURES: Inching higher as Cohn/Mnuchin tax...

    US TSY FUTURES: Inching higher as Cohn/Mnuchin tax briefing ends, still off early session highs; equities have pared gains (eminis +3.25, 2388.25), USD giving up gains (USD/Yen 111-24). Trade orderly, however as market continues to digest the "broad strokes".

  • Treasury yields erase gains as Trump tax plan outlined

    Treasury yields erased gains after U.S. Treasury Secretary Steven Mnuchin and President Doanld Trump's chief economic adviser Gary Cohn outlined the White House's "massive" tax plan on Wednesday. They said that the corporate tax rate for top payers would fall from 35% to 15%, eliminated the alternative minimum tax and the estate tax and get rid of numerous deductions.

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News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.