HSBC says BOJ to widen Yield Curve Control (YCC) range in H1, USD/JPY lower in 2023
HSBC’s Bank of Japan outlook, in brief from a note. HSBC target H1 2023 for the Yield Curve Control (YCC) range to expand once more, but say they can’t pinpoint the exact date. On the yen, HSBC note other likely domestic developments that could cause USD/JPY to fall this year. Including: resident investors FX-hedging their […]
US treasury auctions off $43 billion a five year notes at a high yield of 3.53%
WI level at the time of the auction 3.554% Auction Grade: A Once again, the international demand comes to the rescue taking 11% more than the 6 month average. The Domestic demand was marginally lower. Dealers have a low 8.8% of the leftovers. Bid Bid In a market, a bid is a price at which […]
Asia FX weakens on recession woes, yen supported by yield cap bets By Investing.com
© Reuters. By Ambar Warrick Investing.com– Most Asian currencies retreated on Thursday as weak U.S. economic data pushed up fears of a potential recession, while the Japanese yen recouped most of its recent losses on speculation that the Bank of Japan may yet increase its yield control range. The was the best performing Asian currency for […]
Japanese yen, bond yields tumble after BOJ holds yield control range By Investing.com
By Ambar Warrick Investing.com– The Japanese yen and benchmark bond yields fell sharply on Wednesday after the Bank of Japan maintained its yield curve control range, ducking market expectations for a further widening in the bank’s policy. The fell over 2% to 130.97 against the dollar, pulling back sharply from an eight-month high hit earlier this […]
The 10 year yield has a floor in place
The US 10 year yield moved to a new year low at 3.417%. That took the yield just below the 50% of the move up from the August 2022 low at 3.426%, but remained above the December low yield of 3.404%. US 10 year yields ping ponging in a 50 bp range The combination is […]
U.S. Treasury auctions of $18 billion of 30 year bonds at a high yield of 3.585%
WI level came in at 3.609% just ahead of the auction. High-yield 3.585% WI level at the time of the auction 3.609% Tail -2.4 bps vs six-month average of -0.2 basis points Bid to cover 2.45X versus six-month average of 2.37X Directs (measure of domestic demand) 16.33% vs. six-month average of 19.0% Indirects (measure of […]
U.S. Treasury sales of $40 billion of 3 year notes a high yield of 3.977%
High-yield 3.977% versus WI level of 4.000% at the time of the auction tail -2.3 basis points. bid to cover 2.84X versus six month average of 2.52X directs 13.2% versus a six month average of 19.3% indirect 69.5% versus six month average of 59.2% primary dealers 17.3% versus six month average of 21.5% The only […]