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Not much to write home about for Tsys.......>

US TSYS
US TSYS: Not much to write home about for Tsys during the Asia-Pac session, with
a negative tone for e-minis and regional reaction to Thursday's BoJ sources
piece from the Nikkei/the FT remdesiver story underpinning. T-Notes operate on
low volume (~45K lots traded thus far), last +0-03 at 139-03+, as the curve
twist flattens, with 2s a touch cheaper on the day. Swaps generally wider at the
margins.
- Worth recapping our latest Fed exclusive: "The Federal Reserve's USD600
billion Main Street lending facility might attract only modest take-up because
the current loan terms are burdensome and unattractive to banks, former Fed
officials told MNI, adding that they expected significant changes to the program
by the time it is rolled out." Elsewhere, Tsy Sec Mnuchin outlined the potential
for fiscal support for the oil sector, but also noted that there are no current
plans re: a Federal facility to inject funding into non-bank mortgage servicers.
- Eurodollar futures sit unchanged to 0.5 tick lower through the reds. Only flow
of note saw a 2.0K seller of EDZ0Z2.
- Flash durable goods date headlines today, with final UoM sentiment also due.
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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