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A Narrowing Of The Fiscal Divide

US TSYS

The apparent narrowing of the fiscal divide on the Hill has provided some light support to e-minis in a holiday thinned Asia-Pac session, allowing T-Notes to edge below the bottom end of their early range, last -0-03+ at 139-13+, just off worst levels of the day. Still, it is worth remembering that Senate Majority Leader McConnell played down any prospect of the Democrats' proposal being passed through the Senate on Wednesday. The curve is a touch steeper on the day, with cash Tsys 0.2-1.3bp cheaper vs. Wednesday's closing levels. Eurodollar futures sit unchanged -1.0 through the reds.

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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