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T-Notes trade sharply lower from the off,...>

US TSYS
US TSYS: T-Notes trade sharply lower from the off, with the lead contract
breaking below Friday's low on the back of the broader risk on flows stemming
from the U.S.-China trade war "truce."
- This comes after a bid moved into Tsys late Friday, attributed to month-end
flows. That came after the space brushed off a much stronger than expected MNI
Chicago PMI print, with many suggesting that the reading reflected an uptick in
activity ahead of the implementation of tariffs.
- Broader risk flows will dominate early this week, ahead of ISM survey data,
and a smattering of Fedspeak from Clarida, Quarles, Williams, Brainard & Kaplan
later on Monday.
- T-Notes last 119.08+, U.S. 10-Year cash Tsy yields closed at 2.988% on Friday.
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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