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A Little Softer On The Day


Tsys follow EGBs off best levels, with an uptick in crude oil futures also eyed (although global oil benchmarks remain comfortably shy of levels seen early in the week).

  • The major cash Tsy benchmarks sit 1-2bp cheaper on the session, while TYZ3 is a little off session lows, +0-03+ at 108-01+.
  • ECB & BoE speak will provide the scheduled points of interest ahead of NY hours, before CPI data comes to the fore.
  • Our full preview of the CPI release can be found here:
  • FOMC-dated OIS shows ~7.5bp of further tightening in the cycle (through December). Beyond that, the strip prices 58.5bp of cuts through September ’24 vs. current terminal policy rate pricing levels.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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