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Belly Underperforms, Space A Touch Lower

US TSYS

Weakness in T-Notes allows the 7- to 10-Year zone of the cash curve to underperform, cheapening by ~3.5bp on the day, with T-Notes last printing -0-03 at 131-03. The move has been aided by the previously outlined JPY weakness and firmer than expected PMI readings out of China. Elsewhere, participants' continue to look ahead to today's infrastructure related address from U.S. President Biden.

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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