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Cash US Tsys Cheapen After Yesterday's Holiday

CROSS ASSET

Cash US tsys have opened 5-6bps cheaper across benchmarks after the observance of the Martin Luther King public holiday yesterday.

  • The calendar has been relatively light today, with Japan's PPI for December, Australia's Consumer Sentiment for January and NZ's NZIER Business Opinion Survey for Q4 as the highlights.
  • The market's reaction to the data drop has been minimal so far.
  • Equity markets are a little softer, with the Nikkei 225 down 0.4% and the ASX 200 down 0.9%. The S&P500 e-mini is 0.2% weaker.
  • In currency markets, JPY is little changed, but AUD and NZD are weaker, continuing their recent underperformance.
  • WTI futures are 0.1% higher on Middle East tensions, with gold 0.2% weaker.

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