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T-Notes continue to operate in familiar.....>

US TSYS
US TSYS: T-Notes continue to operate in familiar territory, last +0-02+ at
138-30+, on decent enough volume of ~64K lots, given the China & Hong Kong
holiday. Bulls seem reluctant to force a test of recent range highs, at least
for now, even with broader equity markets trading on the defensive.
- Cash trade has seen bull flattening with yields 0.2-1.3bp richer across the 
curve.
- Very little to pen re: headline news flow.
- Swaps spreads are little changed across the curve.
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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