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A quiet re-open for Tsy futures........>

US TSY/RECAP
US TSY/RECAP: A quiet re-open for Tsy futures after T-Notes closed at/near
session lows Friday, as the belly underperformed slightly in cash trade.
- There was a focus on a WSJ piece Friday titled "Fed Off'ls Weigh
Earlier-Than-Expected End to Bond Portfolio Runoff." Focus also fell on the
ending of the U.S. gov't shutdown, temporary 3-week stop gap bill has been
signed with the Dems & Reps seemingly sticking to their views re: the border
wall.
- Focus Monday falls on 2- & 5-Year note supply, with 7-Year & 2-Year FRN supply
also shoehorned in on Tuesday, ahead of Wednesday's FOMC decision. Other notable
risk events this week include the monthly labour market report, due Friday, with
the m'fing ISM report due the same day. Elsewhere the Chicago PMI print will hit
Thursday. Worth highlighting that the U.S.-China high level trade talks get
underway Wednesday, and there is the potential for the U.S. Tsy to reveal its
forecasts for its end-quarter cash balance later Monday.
- T-Notes last 121.11+, U.S. 10-Year cash Tsy yields closed at 2.758%.
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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