US Treasuries open NY lower after mixed overnight flows heading into today’s 1pm ET US$29B 7Y note auction. In TOKYO, Treasuries moved lower from the start after closing NY Wed higher after reasonably good $35B 5Y note auction. Asian central bank selling arose in 7-year notes. Sister-market-tied buying arose in US Tsy intermediates. In LONDON, Treasuries initially rallied early amid a solid German Bund opening on Mideast tensions and Greek uncertainty. But then Tsys ebbed as German Bunds pared opening gains amid solid economic data, strong German Ifo business sentiment survey. Tsys then firmed a bit as European Comm sharply cut growth 2012 EU, Eurozone growth forecasts. Treasuries drew fast money accounts’ selling but light dip buying from Japanese accounts around 2.06% in the 10-year note. National European central banks bought US front end Tsys and other central bank buying arose in 5-year notes. Central bank selling arose in 10Y notes, buy-and-hold accounts sold 30-yr. All await 8:30 am wkly jobless claims.
StockMarketNews Research Team