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Cheaper Early In Asia

US TSYS

Asia-Pac participants seems happy to sell the BoE-inspired rally witnessed on Thursday, with the 7- to 10-Year zone of the curve leading the weakness in early regional cash trade as the major Tsy benchmarks run 1.0-2.5 cheaper across the curve. TYZ1 last -0-07 at 131-03. Perhaps the latest leg lower was aided by the previously flagged Axios sources piece which pointed to the potential renomination of Fed Chair Powell (some of the contenders for the role, including current Fed Governor Brainard, are viewed as more dovish than the incumbent).

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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