Uptick In Futures

Tsy futures have nudged higher during Early Asia-Pac dealing, unwinding most of their post-settlement downtick (in across the curve terms). That leaves TYM2 +0-01 at 120-26+, operating within an 0-08+ range thus far, with regional participants happy to buy the post-settlement dip after Wednesday’s richening.

• Geopolitics have dominated headline flow since the re-open, with POLITICO sources noting that “The Biden administration is holding internal discussions about sending a high-level official to Kyiv to show further support to Ukraine. No decision on the potential visit has yet been made as deliberations continue inside the White House. President Joe Biden and Vice President Kamala Harris remain candidates to represent the U.S. in the Ukrainian capital, though it’s far more likely that a Cabinet member like Secretary of State Antony Blinken or Defense Secretary Lloyd Austin will go, the officials said.” There was nothing in the way of tangible market reaction when it comes to that story, and a lack of wider headline impetus apparent thus far.