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A Breather

US TSYS

Participants are seemingly more than happy to take a breather in early trading this week, with T-Notes last unchanged at 139-20+, holding a tight range since the re-open.

  • The contract finished just shy of best levels on Friday, with Tsys coiling within their respective recent ranges, even as equities pushed higher during the final session of the week. Contacts pointed to real money interest in 10-Year+ paper as a supportive factor for the space on Friday, in addition to the softer than expected durable goods reading.
  • Tuesday provides the initial flash point for participants this week, with the first debate between Presidential candidates Trump and Biden slated. Elsewhere, familiar sources of risk surrounding the U.S. fiscal picture, Sino-U.S. tensions (namely TikTok & SMIC, at least for now) and Brexit matters continue to dominate headline flow.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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