T-Notes Hit At The Re-Open

T-Notes shift lower at the re-open with e-minis bid, as the former trades through yesterday's trough to last deal -0-08 at 137-27. Suggestions of a close race in Florida from some of the exit poll commentary may be the catalyst here, as Trump essentially needs to win Florida to hold the White House.

• T-Notes went out near cheapest levels of the day on Tuesday, with the cash Tsy curve bear steepening on better risk appetite into the U.S. election, with the uptick in crude also playing into the dynamic. An ultra-bond block buy allowed the space to correct from intraday cheaps during the early part of the NY afternoon, before weakness came back to the fore. 30-Year cash Tsys went out a little over 6.0bp cheaper on the day, at cheapest levels.
• Election matters will dominate over the coming hours, after the same topic drew much of the focus during the early part of this week, as market particpipants largely looked through broader data releases and headline flow.