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Early Weakness In Futures Fades A Little

US TSYS

Cash Tsys run 1.0-2.5bp cheaper in early dealing, with the front end leading the way lower as the curve bear flattens. Note that futures have pulled back from early lows, with e-minis on the defensive as familiar matters including the ongoing Russia-Ukraine conflict and worry re: the widening Chinese COVID-related social mobility restrictions start to outweigh the early impetus from the first round of the French Presidential election. TYM2 -0-02 at 120-02 as a result, -0-05+ off worst levels of the day.

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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