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A Little Firmer

US TSYS

Tsys look to early moves in European paper for direction, with cash Tsy yields 1-2bp lower on the day. TYH4 trades at recently registered highs of the day, +0-04+ at 112-26, operating in an 0-08 range.

  • November’s PCE data headlines the NY docket ahead of the weekend, with ~23.5bp of cuts priced into the Fed funds futures strip through the March FOMC and a cumulative ~157bp of cuts showing through ’24.
  • Note that final UoM sentiment survey prints, preliminary durable goods data and new home sales readings will also cross in NY hours.
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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