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Little Changed After Monday's Reversal

US TSYS

T-Notes printing virtually unchanged at the re-open, after the contract went out just shy of best levels on Monday.

  • Tsys recovered from their intraday cheaps as we moved through NY trade, with the continued fiscal impasse in DC and the COVID-related worry in London, Germany & New York driving the unwind of the early risk-positive price action.
  • The curve saw the most marginal degree of twist steepening, with 30s virtually unchanged on the day come the bell.
  • Flow was dominated by a 5.5K buyer of the USH1 169.00/165.00 put spread, which crossed on screen in the NY afternoon.
  • China's economic activity data for the month of November headlines during Tuesday's Asia-Pac session.
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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