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Light Demand Seen

US TSYS

Some light screen buying of TYZ1 has dominated on the flow side since the cash Tsy re-open, helping the contract to fresh session highs as of typing, last +0-05+ at 130-15. Cash Tsy trade sees the major benchmarks richen by ~0.5-2.0bp, with the belly of the curve leading the way. Perhaps a case of some jitters becoming evident ahead of the Biden-Xi phone call, with little in the way of broader optimism re: a "positive" outcome apparent, given the guidance provided by various White House officials re: the matter in recent days.

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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