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Familiar Matters Still Eyed

US TSYS

A tight re-open for T-Notes, last -0-00+ at 138-20.

  • The fiscal impasse on the Hill coupled with European COVID worry supported Tsys and pressured e-minis on Monday, with further defensive posturing witnessed on the back of China's retaliatory sanctions towards U.S. corporates re: matters surrounding Taiwan.
  • The curve bull flattened as cash Tsys richened by up to 5bp across the curve come the bell, with T-Notes closing a touch shy of best levels.
  • A TY block buy during the NY afternoon helped support the broader bid theme.
  • There is little of note on Tuesday's Asia-Pac calendar.
  • The latest 2-, 5- & 7-Year auction cycle provides interest in the coming days.
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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