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The US Tsy curve flattened in front....>

US TSY/RECAP
US TSY/RECAP: The US Tsy curve flattened in front on Wednesday's FOMC MonPol
decision.
- A WSJ report stated that Fed Chairman Powell is considering holding more press
conferences after MonPol decisions i.e. after every decision, and his appearance
Wednesday could help him decide. This shouldn't really be a surprise as Powell
has focused on communication since assuming the role of Fed Chair. The story has
more of an effect on the USD than rates.
- The space had little reaction to the US/North Korea summit.
- The 30-Year auction had a 0.1bp tail, as the cover ratio and dealer
participation held steady.
- Ongoing heavy option flow was noted, with demand for Tsy calls.
- The Eurodollar strip finished off of the early lows. - T-Notes last at
119.12+, US 10-Year Tsy yield closed at 2.961%.
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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