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Steeper, Refunding Announcement Eyed

US TSYS

Earlier dynamics continue to hold for the space, even with T-Notes back from worst levels, last -0-01+ at 140-01, with yields running 0.2-2.1bp cheaper across the curve, light steepening in play. Flow-wise the aforementioned downside expression via a 10.0K block lift of the TYZ0 139.00 puts still stands out.

  • TikTok matters continue to dominate headline flow, but participants are more likely to be focusing on this week's quarterly refunding announcement.
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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