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T-Note Rangebound, On Lookout For Catalysts

US TSYS

With little in the way of notable macro headline flow crossing the wires so far, T-Notes have held a very tight range, only posting a brief uptick after the Tokyo open. The contract ran to a session high of 111-05+ before pulling back.

  • The equity space remains under scrutiny during the earnings season/post-CPC congress turbulence in Chinese stocks. E-minis trade on a firmer footing despite a poor revenue forecast from Meta, while South Korean indices have been resilient amidst below-forecast profit reported by Samsung. The overnight surge in the NASADAQ Golden Dragon Index bodes well for Chinese shares.
  • U.S. Tsy yields are marginally mixed, last sitting unch. to +0.6bp. The contract last deals +0-01 at 111-04, with Eurodollar futures trading -2.0 to +1.5 tick through the reds.
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