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T-Notes trade at unchanged levels, with.....>

US TSYS: T-Notes trade at unchanged levels, with U.S. equity index futures
trading mixed after starting the session on the back foot following Wednesday's
huge stock rally. Rates have stuck to a tight range in Asia-Pacific hours. Cash
yields trade 0.3 to 2.2bp lower at writing, with the curve sitting flatter.
- Focus on the ongoing gov't shutdown. On Wednesday WH economic advisor Hassett
stressed that Fed Chair Powell & U.S. Tsy Sec Mnuchin's jobs are fully secure,
with the WSJ reporting that Powell "has told White House officials he is open to
their suggestion that he meet directly with Trump, a sit-down that they hope
will defuse Trump's anger over interest rate increases that he blames for
dramatic market swings."
- A very limited session for the Eurodollar strip thus far, with the whites and
reds trading 0.5 tick higher to 2.0 ticks lower.
- Latest 5-Year auction produced a huge 2.3bp tail, with the cover ratio
cratering to 2.09x, 7-Year supply due later today. Weekly jobless claims, cons
confidence & FHFA house price data also due Thurs.
- T-Notes last 121.01, U.S. 10-Year cash Tsy yields last at 2.793%.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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