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AUSSIE 3-YEAR TECHS

(H3) Falters on Firm CPI

BONDS

NZGBS: Flat After Frenetic Wednesday

AUSTRALIA

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Cheapening Holds

US TSYS

Cash tsys are holding onto the mornings cheapening, dealing 3 to 4bps cheaper across major benchmarks. TYH3 is dealing at 114-15 around the middle of its session range, -0-06 today. With little in headline flow in recent trading, the rally in Hong Kong equities aided by further easing of Chinese Covid restrictions and the softer than expected Caixin PMI print have not moved the needle on tsys allowing the early cheapening to persist.

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Cash tsys are holding onto the mornings cheapening, dealing 3 to 4bps cheaper across major benchmarks. TYH3 is dealing at 114-15 around the middle of its session range, -0-06 today. With little in headline flow in recent trading, the rally in Hong Kong equities aided by further easing of Chinese Covid restrictions and the softer than expected Caixin PMI print have not moved the needle on tsys allowing the early cheapening to persist.