March 14, 2023 03:09 GMT
2-Year Yield Continues To Firm In Asia
2-Year Yields continue to par some of yesterday's losses, now up 16bps today, having fallen ~61bps yesterday in the largest one day decline since 1982. That leaves cash tsys sitting 16bps cheaper to 3bps richer across the major benchmarks, the curve has twist flattened.
- In Fed dated OIS, there is now ~20bps of tightening priced into the March Fed meeting with ~75bps of cuts priced by December 2023.
- TYH3 deals at 114-09, -0-12, a touch off session lows.