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Bid has crept into Tsys in the last 30......>

US TSYS: Bid has crept into Tsys in the last 30 minutes or so, little in the way
of fresh headline flow has been seen. U.S. equity index futures have unwound the
bulk of their early gains. Market jittery ahead of Trump's oval office address.
- T-Notes -0-05 at 137-07+, 0-04 off the peak of this little pop.
- Market liquidity still limited vs. the norm, with vol heightened. J.P.Morgan
have pointed to the thinnest liquidity backdrop for Tsys since 2008.
- Should have also mentioned the woeful round of 10-Year issuance Wednesday,
with the aforementioned matters and recent richening continuing to hinder
primary takedown.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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