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Light Selling Pressure Creeps In

US TSYS

Some screen selling of T-Notes takes the contract to fresh session lows on the back of the stronger than expected Caixin services PMI print, last -0-02+ at 134-29+, although the contract continues to operate within the confines of a narrow 0-03+ range. A bounce in the Hang Seng, reportedly on the back of Chinese state media toning down its rhetoric against the online gaming industry, is also applying some modest pressure to the space. Cash Tsys trade little changed to 1.5bp cheaper across the curve, with very modest bear steepening in play.

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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