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Asia Not Buying The Latest Dip In Early Dealing

US TSYS

The aforementioned uptick in e-minis on the Evergrande story that we have flagged re: the liquidation of one of its existing equity holdings to raise ~CNY10bn is seemingly applying some modest weight to the Tsy space. T-Notes last print -0-04+ at 131-10+, hovering a little above Tuesday's low. Meanwhile, cash Tsy trade has seen some bear steepening, with 2s 0.5bp cheaper and 30s running ~1.5bp softer on the day. No sign of Asia being willing to buy the latest dip as of yet!

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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