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Futures Firmer, Light Volumes On Monday Due Memorial Day

US TSYS

TYU3 is currently trading at 113-14, +8 from NY closing levels on Friday, after trading higher on light volume on Monday.

  • As trading resumes after the Memorial Day holiday investors will be focused on the passage of a debt-ceiling bill after a bipartisan agreement that was reached on Saturday. The true test remains in garnering support from lawmakers across the political spectrum.
  • Traders will also be confronted with mounting expectations that the Federal Reserve is likely to raise interest rates again in June or July. FOMC dated OIS closed on Monday with 15bp of tightening priced for the June 14 meeting and a cumulative 25bp of tightening priced by July.

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