November 21, 2022 00:25 GMT
Fedspeak & Chinese COVID News Support
US TSYS
The combination of the previously flagged Chinese COVID restrictions & a couple of COVID-related deaths in the city of Beijing (one of which involved an elderly individual, with details around the other light at present), as well Atlanta Fed President Bostic pointing to a slower pace of tightening from December (albeit with the potential for a higher terminal rate than was previously foreseen, generally in line with the core Fed view), has supported Tsys early this week. That leaves the major cash Tsy benchmarks running 1.0-2.5bp richer across the curve, with 3s leading.
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