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Pressure On Biden COVID Relief Plan Chatter

US TSYS

T-Notes trade to fresh session lows on the back of the CNN piece pointing to a $2tn COVID relief package that could be tabled by U.S. President-elect Biden (details in earlier bullet), with the contract last -0-05 at 136-19+. Biden will present his plan on Thursday evening, with the CNN piece noting that "The Biden team is taking a "shoot for the moon" approach with this package, one lawmaker in close contact with them told CNN, though they added that the price tag could still change." The curve has bear steepened on the story, with 30s now sitting 2.5bp cheaper vs. closing levels.

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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