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A Touch Cheaper At The Cash Re-Open

US TSYS

The belly of the curve underperforms a touch in early Asia-Pac cash trade, with 7s trading ~1.5bp worse off. There has been nothing in the way of gamechanging headline/market flow witnessed in early Asia-Pac trade, leaving T-Notes to operate in a narrow 0-03 range, last +0-02 at 131-08. Immediate focus is on the official Chinese PMI readings, which are scheduled to hit in just under 1 hour, although broader focus remains on President Biden's infrastructure address (scheduled for 16:20 Eastern time on Wednesday).

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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