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Familiar Themes At Work

US TSYS

T-Notes in a tight 0-03 range to start the week, last +0-02+ at 140-05.

  • This comes after yields richened into month-end on Friday, with a lack of clear direction during the broader session, despite the uptick in volume related to month-end.
  • Weekend news flow focused on familiar sources of Sino-U.S. tensions, while various media outlets have suggested that comments from U.S. Secretary of State Pompeo point to a wider net being cast than President Trump targeting TikTok in isolation.
  • Elsewhere, Fitch's revision of the U.S.' AAA credit rating outlook to negative from stable had no real impact late on Friday.
  • Also worth noting that the fiscal impasse on the Hill continues, with no meaningful process being made on the matter over the weekend.
  • Caixin manufacturing PMI data out of China headlines during Asia-Pac hours on Monday.
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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