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T-Notes Reverse Gains

US TSYS

T-Notes have shed their initial gains after rejecting resistance from yesterday's peak at 131-07+. The contract last changes hands -0-00+ at 131-04, hovering just above its session low of 131-03. Its pullback did not seem driven by any particular headline catalysts.

  • Cash Tsy yields now sit marginally higher (+0.3-0.8bp) across the curve.
  • Eurodollar futures trade unch. to +0.5 tick through the reds.
  • The House of Representatives passed short-term debt ceiling increase, sending the bill to President Biden.

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