Free Trial

Cheapening A Little

US TSYS

Tsys have nudged lower in recent trade, with the major cash benchmarks running 1.5-3.0bp cheaper, as 7s lead the weakness.

  • TYZ2 has printed as low as 110-26, with Tuesday’s base (110-22) providing initial technical support. A break below there would expose the 3.0% 10-DMA envelope. The bearish technical trend remains well and truly intact.
  • When it comes to drivers, we would point to the bear steepening of the JGB curve and previously flagged source reports pointing to the potential departure of U.S. Tsy Secretary Yellen (post-midterms) as potential drivers here.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.