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Lower Early On

US TSYS

Tsys hold lower, with TYH2 last -0-11+ at 130-14+, 0-01+ off worst levels, while cash Tsys sit ~2.5-3.5bp cheaper on the day, as the belly leads the weakness. Regional participants have been happy to sell into the late NY bounce in the belly/longer end, given the hawkish rhetoric deployed by Fed Chair Powell on Tuesday.

  • We should also flag that the Washington Post has pointed to the U.S. moving towards stricter COVID testing announcements for travellers entering the country, with an announcement re: the matter potentially coming as soon as Thursday.
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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