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Time For Another Debate

US TSYS

T-Notes last +0-00+ at 138-23+, with the contract operating a little off Wednesday's lows.

  • U.S. President Trump's proposal re: piecemeal fiscal stimulus and the growing prospect of Democratic stimulus ideas coming to fruition after the November election (per betting markets) steepened the curve on Wednesday, as yields moved higher, after Trump's fiscal rug pull provided support for the space into Tuesday's close.
  • 10-Year supply was on the screws, with the cover ratio and takedown metrics showing very little deviation vs. their recent averages, albeit with an uptick in cover and downtick in dealer participation vs. the previous 10-Year offering.
  • Fedspeak, including the minutes from the central bank's most recent monetary policy decision, had little impact on the space.
  • The Vice-Presidential debate between Pence & Harris headlines during Asia-Pac hours.
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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