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Risk off flows have eased somewhat with.....>

US TSYS
US TSYS: Risk off flows have eased somewhat with T-Notes back from session
highs. Risk is perhaps being aided by the fact that China hasn't retaliated to
the latest round of U.S. tariffs immediately, although policymakers are set to
hold a meeting to formulate a response, according to reports. There has also
been some positive comments out of China re: long term relations with the U.S.
The tiered nature of the latest round of U.S. tariffs (promoting supply chain
adjustment for U.S. firms), may also be playing a part in the move.
- Cash trade has been somewhat limited.
- TY options trade was active in early dealing, but has tailed off through the
session as the market regained some poise.
- Eurodollar futures last trade 0.5 to 2.0 ticks higher on decent enough volume.
- T-Notes last 119.07+, U.S. 10-Year cash Tsy yields last 2.985%
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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