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Cash Curve Bull Steepens, TYM2 Off Highs

US TSYS

Bull steepening of the curve observed early this week, with cash Tsys running 5.5-8.0bp richer as of typing. TYM2 is comfortably back from highs, last +0-24 at 126-29+, with the broader risk-off move moderating from extremes. There hasn’t been much in the way of notable headline flow, although the situation surrounding Russia’s Sberbank (branches now closed for 2 days in Slovenia and questions over the feasibility of its operations in Croatia) have caught the eye. Comments re: dialogue between the EU & Ukrainian leadership have also garnered interest, with wires suggesting that EU Commission President Von der Leyen wants Ukraine to join the EU.

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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