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Off Lows

US TSYS

Cross-asset moves as JPY crosses pull lower, e-minis move back into (marginal) negative territory and Tsys tick away from session cheaps. That leaves TYU2 -0-03 at 119-26+, 0-05+ off worst levels, while cash Tsys run little changed to 2bp cheaper across the curve, with the belly leading the weakness. There hasn’t been much in the way of meaningful headline flow to drive the move. Note that Chinese equities opened marginally lower on the day, aided by a modest uptick in COVID cases in the latest national daily count, which came after Tuesday’s announcement re: Shanghai moving to conduct mass PCR in some districts.

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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