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Tsys went out at/near session lows.....>

US TSY/RECAP
US TSY/RECAP: Tsys went out at/near session lows on Wednesday, extending on
their post-FOMC Sep MonPol meeting mins lows, as the curve edged steeper on the
day. T-Notes have continued to edge lower in early Asia-Pacific dealing.
- Minutes highlights: many project above-neutral rates, need for temporary
restrictive policy, the removal of 'accommodative' is not a signal of policy
change while tariffs & trade uncertainty pose downside risks. Preference for
gradual hikes remained.
- The latest semi-annual U.S. Tsy FX report failed to name China as FX
manipulator, although it produced elongated communication surrounding the
yuan/China... perhaps a final warning?
- Fed's Bullard & Quarles will speak on Thursday, with 30-Year TIPS supply also
due.
- T-Notes last 117.25, U.S. 10-Year cash Tsy yields closed at 3.205.
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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