FW: [Maybank] USD Rebound Underway

 

 

USD Rebound Underway Global Markets Daily by Saktiandi Supaat FX Research USD rebound extended overnight, owing to higher UST yields amid large supply of T-bills overnight which were met with softer demand (bid-to-cover ratio for 4-w notes fell to lowest level of 2.48 since 2008). Our caution for the risk of rising UST yield on the back of increase in debt issuance materialised. 2Y yield rose to 2.255%, highest level in nearly 10 years. Today's auction brings another $35bn in 5Y debt and tomorrow brings $29bn in 7Y notes ahead of FoMC meeting minutes ... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Christopher Wong     (65) 6320 1347     wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.