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T-Notes & cash Tsys took their time to......>

US TSYS
US TSYS: T-Notes & cash Tsys took their time to react to a sell-off in U.S.
equity index futures from the re-open (with vol dampening measures enacted by
CME in the equity space) after news hit that a Huawei executive was detained in
Canada owing to breaches of Iranian sanctions, with the U.S. seeking her
extradition.
- T-Notes now trade through Tuesday's session high. Cash curve running flatter
after yesterday's market closure, with inversion in the shorter end still in
play.
- Out of the money call buying noted in Tsys, with the TYF9 122.00 & 123.50
calls in play.
- Front end of the Eurodollar strip coming under some modest pressure following
yesterday's closure. As a reminder 3-Month USD LIBOR set ~2.7bp higher
Wednesday. EDH9 out through the golds trading higher by 0.5 to 5.0 ticks with
the reds/greens leading.
- T-Notes last 120.08+, U.S. 10-Year cash Tsy yields last at 2.890%.
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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