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Cheaper On Monday

US TSYS

TYZ3 deals at 106-04, -0-03, in line with late NY levels.

  • Cash tsys finished 3-6bps cheaper across the major benchmarks, the long end of the curve marginally outperformed.
  • Tsys observed narrow ranges for the most part on Monday, spillover from EGBs as German CPI was lower than forecast saw the space firm early in the European session.
  • A Nikkei source report noting that the BoJ may consider tweaking YCC at today's monetary policy meeting weighed and tsys ticked away from session highs.
  • The US Tsy expected to borrow $776bn in Q4 and $816bn Q1 2024, both represent record borrowings for the quarter, the publication weighed on Tsys into the close.
  • In Asia today the aforementioned BoJ meeting headlines. Further out we have the US Conference Board consumer confidence and employment cost index.

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