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Tsys spiked higher into the close on........>

US TSYS: Tsys spiked higher into the close on Tuesday. The bid came on the back
of ex-Trump lawyer Michael Cohen reaching a plea deal with prosecutors,
including an acknowledgement that "hush money" payments were made on behalf of a
candidate to influence an election. While Trump was not specifically named, a
top Democrat on the HIC stated that "Cohen's guilty plea potentially implicates
trump in illegal campaign finance violations." Elsewhere former Trump campaign
official Paul Manafort was found guilty of tax evasion and fraud. The bid
continued in early Asia-Pacific dealing, with T-Notes briefly breaching the
contract's Tuesday high. There was little reaction to headlines noting that
Lanny Davis, attorney for Cohen, stated that his client has information that
should be of interest to special counsel Mueller and is "more than happy to tell
the special counsel all that he knows." The space then eased a touch on the back
of a Politico story which suggested that the Trump administration is to announce
on Thursday that it has reached a 'handshake' deal with Mexico in NAFTA talks.
- The Eurodollar strip sits a touch flatter last.
- T-Notes last 120.18+, U.S. 10-Year cash Tsy yields last at 2.828%.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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