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Tsys edged lower overnight after it.........>

US TSYS
US TSYS: Tsys edged lower overnight after it became apparent that the 2 Koreas
will hold a summit on September 18-20, with the 2 nations set to discuss
practical measures for denuclearisation of the Korean peninsula. The reports
also noted that North Korean leader Kim stated that the country's nuclear
testing programme cannot be restarted after the dismantling of the test site.
- Wednesday heralded some modest curve steepening aided by a blocked steepener
in FVZ/WNZ (duration neutral) and outright buying of 13.8K FVZ, decent deal tied
hedging was also noted amid heavy corporate supply, with participants on the
lookout for Cigna's multi tranche deal, which could exceed $20bn in size.
- The Eurodollar strip has traded in a limited fashion overnight.
- ADP employment data is due on Thursday, ahead of Friday's labour market
report, with the PMI/ISM services surveys also on the docket, in addition to
durable goods and factory orders data. Fed's Williams is also due up on
Thursday, with participants also on the lookout for any U.S.-China trade
rhetoric ahead of the upcoming imposition of addition U.S. tariffs on China.
- T-Notes last 119.30, U.S. 10-Year cash Tsy yields last at 2.904%.
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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