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Off Richest Levels

US TSYS

The light bid that was apparent ahead of the Xi-Biden phone call has faded from extremes, with the opening salvos ahead of the call seemingly a little bit more open vs. some expectations. Still, there was a firm underlying tone in the comments from both sides, perhaps underscoring the central thought process surrounding the general idea that today's call presents a relatively low probability chance of meaningful advances re: Sino-U.S. Relation. TYZ1 +0-04+ at 130-14, back from session highs of 130-17, with cash Tsys running flat to 1.5bp richer across the curve, as the belly maintains the earlier flagged outperformance.

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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