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Another quiet re-open for the space. -......>

US TSYS
US TSYS: Another quiet re-open for the space.
- Futures volume was light Monday, with cash markets closed in Asian hours owing
to the Japanese holidays that will be in play until next Tuesday.
- Modest curve steepening was in play, with T-Notes going out lower on the day,
albeit off of worst levels. The 2s10s curve closed at the highest level observed
since November 2018, extending the move above its 200-DMA after the close above
on Friday.
- Scaled buying in TU was noted, followed by block sales of FV.
- A positive session for equities also helped apply weight, although Alphabet's
earnings were disappointing after hours.
- T-Notes last 123.16+, U.S. 10-Year cash Tsy yields closed at 2.525%.
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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