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Modest Cheapening Extends

US TSYS

Cash Tsys run 1-2bp cheaper across the curve, with the belly leading the way lower, aided by the previously touted weakness in the ACGB long end, a block seller in TY futures (-2.5K) & the reaffirmation of the central hawkish Fed tone from Governor Bowman. TYZ2 trades just off the base of its 0-07 range as a result, last -0-05 at 111-10+.

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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