Asia Reacts To Friday & Weekend News Flow, E-minis Bid & Tsy Futures Offered

E-minis are bid and U.S. Tsy futures are offered to start the week, with Asia-Pac investors seemingly zeroing in on the BBG source report that was released during the final NY session of last week, which suggested that “U.S. authorities are considering expanding an emergency lending facility for banks in ways that would give First Republic Bank more time to shore up its balance sheet, according to people with knowledge of the situation.” Also note that the weekend saw CNBC sources note that “the surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders has slowed to a trickle in recent days.” The second point could be adding to incremental impetus to the moves. G10 FX trades in narrow ranges, with the JPY at the bottom of the pile, as you would expect against the aforementioned backdrop.