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It has been a sedate start to the session...>

US TSYS
US TSYS: It has been a sedate start to the session for U.S. Tsys, with T-Notes
operating in a tight range as the cash market remains closed for the U.S. Labour
Day holiday.
- Friday provided a relatively quiet end to the week for the space, with
underlying month-end support waning late on, allowing T-Notes to close at/near
session lows, with the curve steepening.
- The Eurodollar strip has operated on low volume, and last trades unchanged to
1 tick softer.
- Focus this week will move to U.S. data, with the labour market report, ISM/PMI
surveys & factory orders all due, in addition to Fedspeak from Williams, Mester,
Kaplan, Rosengren, Kashkari & Bullard. Participants will also keep an eye on the
corporate issuance space, with some large deals earmarked for the upcoming week.
- T-Notes last 120.07+, U.S. 10-Year cash Tsy yields closed at 2.860%.
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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