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All About The Fiscal


Fiscal impasse on the Hill has provided a light bid to Tsys early this week, with some weekend focus on North Korea unveiling its newest ICBM and the aforementioned CNY matters also noted. T-Notes last +0-01+ at 138-28, as the contract sticks to a 0-02+ range early on.

  • This comes after Friday's session was dominated by fiscal headlines, with continued disagreement between the GOP & Pelosi apparent over the weekend, even after Friday saw U.S. President Trump note that he'd like to see a bigger package than either side is presenting… make of that what you will. A reminder that Senate Majority Leader McConnell has suggested that is unlikely that there will be a fiscal deal this side of the election, meaning much of the recent rhetoric is all about framing the negotiations ahead of the November election.
  • As we stand, the Trump admin has called on Congress to pass a pared-down relief bill using the remaining funds from an expired small business loan program, while suggesting that negotiations surrounding the larger package should continue.
  • The Columbus Day holiday in the U.S. will thin out liquidity on Monday.
MNI London Bureau | +44 0203-865-3809 |