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Tight Re-Open After Tuesday Uptick

US TSYS

T-Notes sit at unchanged levels after the re-open, last printing at 137-31+.

  • Tuesday saw focus fall on the ongoing Brexit impasse and the UK's aggressive COVID strain's potential/realised spread to other countries, which allowed the space to grind higher as Wall St. finished mixed. Local data was ignored. T-Notes went out marginally below their session high, while the curve bull flattened as 30s went out 2.5bp richer on the day, although volume was subdued. Flow was headlined by a ~37K screen buyer of the TYH1 138.00/137.00/136.50 put tree.
  • The Asia-Pac session is devoid of any real tier 1 risk events, so it will likely be another pre-Christmas session of headline watching.
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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