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BlockFi Woes Continue To Weigh

CROSS ASSET
  • ESA remains near the day’s low and BBDXY near US session highs after earlier headlines on BlockFi filing for Chapter 11.
  • Limited impact for the above but 2Y Treasury yields off US session lows following the beat for the Dallas Fed mfg survey albeit with cheapening limited by notable fall in price components and broader Fed surveys pointing to ISM downside.
  • 2YY sits -1bp on the day having largely looked through Mester re-iterating the need to see several more good inflation readings.
  • Williams and Bullard speak in 45mins.

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