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Volume Surges, Curve Steepens

US TSYS

Volume surges in recent trade. TYH1 has seen ~112K lots trade in the hour or so since the Biden stimulus chatter hit, accounting for well over half of the ~172K lots traded since the re-open. Contract last -0-06+ at 136-18, 0-01 off lows, bear steepening of the cash curve has been the theme on the headlines, with 30s ~3.0bp cheaper on the day.

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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