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Cure Bull Steepens Early On


The short end of the curve leads the rally at the cash Tsy open, withs 2s richening by 5bp, while 30s sit ~2.5bp richer on the day, with bull steepening in play as a result (as pre-cash open futures trade indicated). TYM2 last +0-08+ at 127-17+, a touch shy of best levels of the session. Headline flow remains relatively light, with U.S. President Biden continuing to condemn Russian actions re: Ukraine, this time in front of the UN Security Council.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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