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Knee-Jerk Lower

US TSYS

T-Notes under pressure early on in London hours breaking through the overnight lows, with a ~2.0K seller at 132-02+ helping the move extend before a quick uptick from worst levels. TYU1 last -0-04+ at 132-02. The 7- to 20-Year zone of the curve leads the relatively modest cheapening in cash trade, with that area of the curve ~1.5bp cheaper on the day. No headline flow observed.

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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