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Cheaper In Asia

US TSYS

TYZ3 deals at 107-25, -0-09, a 0-08 range has observed on volume of ~93k.

  • Cash tsys sit ~4bps cheaper across the major benchmarks.
  • Tsys were pressured in early trade after an agreement in US Congress to avert a government shutdown passed over the weekend.
  • Narrow ranges were observed for the remainder of the session with little follow through on moves. There was no meaningful macro news flow.
  • On the wires today we have the final read of S&P Global Mfg PMI for September as well as the latest ISM Mfg Survey. There are a number of Fed speakers today including Fed Chair Powell and NY Fed President Williams.

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