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The space was mildly higher on.........>

US TSY/RECAP: The space was mildly higher on Monday, finishing in the lower half
of the session's range with steepening apparent after a large position was
implemented after the London close.
- Trade was rather quiet ahead Tue's inaugural semi-annual monpol testimony by
Fed Chairman Powel; although overall volume was high due to ongoing Mar/Jun roll
- Decent size USD corporate issuance was noted on the day.
- Late session flow included better paying in 2s-5s, in-line with the flatter
spread curve.
- Despite a large white pack buyer, the front end of the Eurodlr strip was under
pressure all day with 3M LIBOR climbing.
- T-Notes last at 120.26+, 10-Year yields last 2.862%
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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