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A contained start for T-Notes at the...>

US TSY/RECAP
US TSY/RECAP: A contained start for T-Notes at the Asia-Pac re-open, operating
just off the late Wednesday lows, which came about on the back of U.S. stocks
rallying hard (the Dow added over 1,000 points for the first time in history)
after a tumultuous Christmas Eve for stocks. Tsy yields closed 5.2-7.7bp higher
across the curve on the day.
- Little in the way of headline catalysts for the move, with chatter of year end
rebalancing at play & over extended moves pre-Christmas also cited. Crude also
rallied hard.
- Latest 5-Year auction produced a huge 2.3bp tail, with the cover ratio
cratering to 2.09x.
- Focus on the ongoing gov't shutdown.
- T-Notes last 120.31+, U.S. 10-Year cash Tsy yields closed at 2.808%.
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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