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Deal Or No Deal?


T-Notes +0-01 after the re-open, printing at 138-23+, with the fiscal differences between the Trump administration and Democrats narrowing, although no deal has come to fruition, yet. Pelosi and Mnuchin will speak again on Wednesday, per a Pelosi aide. Senate Republicans still seemingly favour a smaller fiscal deal, at least pre-election (an idea backed up by source reports), although Senate majority leader McConnell has suggested that any White House approved package will be considered.

  • This cash space steepened on Tuesday, owing to the fiscal developments in DC. U.S. 10- and 30-Year yields threatened to break cleanly above their recent range, before backing off.
  • Little of note on the docket in Asia-Pac hours, with an eye on another slew of Fedspeak on Wednesday, in addition to 20-Year supply.
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