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Free AccessHolding Tight Ahead Of FOMC
Tsys showed nothing in the way of a meaningful reaction to the latest round of positive fiscal rhetoric out of DC, with Congressional leaders set to reconvene on Wednesday morning. T-Notes last +0-03+ at 137-31, while cash Tsys run little changed across the curve as we come to the end of what has been a limited pre-FOMC Asia-Pac session. 30K worth of TYF1 139.00 call block flow has provided the highlight thus far, with the trade looking like short cover.
- As a reminder, the curve finished a touch steeper on Tuesday, with 30s cheapening by a little over 2.0bp on the back of the mood music re: Brexit, COVID-19 vaccine positives and some support seemingly gathering behind a slimmed down fiscal support package in DC. Markets looked through local data releases.
- The final FOMC decision of '20 headlines on Wednesday (see our full preview for further details), with retail sales and flash PMI readings also due.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.