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T-Notes Edge Away From Overnight Lows

US TSYS

T-Notes have ticked away from overnight lows in early Asia-Pac trade and last sit +0-01+ at 139-29+. The contract holds a very tight range, with little to rock the boat in the substance of the latest address from U.S. President Trump. His press briefing was interrupted by a shooting next to the White House, which prompted the Secret Service to escort him out of the briefing room, but the POTUS returned as the situation calmed down. Trump noted that he would like to terminate payroll tax, but House Speaker Pelosi pushed back in an interview with MSNBC, arguing that he could only defer payroll tax, but not alleviate it.

  • U.S. fiscal matters, global coronavirus situation and Sino-U.S. tensions provided the main focal points overnight, resulting in a mixed session. T-Notes round tripped from 140-04 as a result.
  • Cash Tsys trade will resume after the Tokyo open, as Japan returns from holidays.
  • Eurodollar futures little changed through the reds.

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