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Bear Flattening Early On

US TSYS

The front end of the curve leads the cheapening shortly after the -reopen, with the major cash Tsy benchmarks running 1-3bp cheaper on the session, bear flattening, while TYU2 is operating at the base of its 0-04 range, -0-10+ at 118-06+. There hasn’t been much in the way of notable headline flow to drive the move, although e-minis have moved higher alongside a bid in the cryptocurrency space (after both were pressured on Thursday).

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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