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A very muted re-open for Tsys, with cash....>

US TSYS
US TSYS: A very muted re-open for Tsys, with cash markets closed in Asia-Pacific
hours owing to the Japanese holidays.
- Friday saw T-Notes finish just shy of session highs, with the curve bull
steepening. The initial knee-jerk sell-off in Tsys on the back of stronger than
exp. Q1 GDP data was quickly unwound, with the breakdown revealing disappointing
domestic demand metrics and a muted inflationary picture.
- Large seller of FFN9 (100K) was noted in the early part of the NY afternoon on
Friday.
- T-Notes last 123.22, U.S. 10 Year Cash Tsy yields last trade at 2.498%.
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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