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Chinese COVID Vs. Hawkish RBNZ In Limited Futures Trae, Cash Closed Until London

US TSYS

Tsy futures have held tight ranges in Asia-Pac hours, with liquidity limited by the observance of a Japanese holiday, which also means that cash Tsys are closed until London hours.

  • The early bid linked to regional reaction to Tuesday’s price action and continued COVID worry re: China (deeper restrictions in some of the country’s major cities) faded in the wake of the latest RBNZ decision, which came down on the hawkish side.
  • News flow was limited elsewhere
  • That leaves TYZ2 -0-01 at 112-18+, operating in a narrow 0-05+ range, on sub-standard volume of ~60K (which is even more restricted when you consider that ~22K lots of that came from quarterly roll activity).
  • Looking ahead, the minutes from the latest FOMC decision headline the pre-Thanksgiving NY docket. We will also get flash PMI data, durable goods, new home sales, MBA mortgage applications, weekly jobless claims and the final UoM survey for Nov.
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Tsy futures have held tight ranges in Asia-Pac hours, with liquidity limited by the observance of a Japanese holiday, which also means that cash Tsys are closed until London hours.

  • The early bid linked to regional reaction to Tuesday’s price action and continued COVID worry re: China (deeper restrictions in some of the country’s major cities) faded in the wake of the latest RBNZ decision, which came down on the hawkish side.
  • News flow was limited elsewhere
  • That leaves TYZ2 -0-01 at 112-18+, operating in a narrow 0-05+ range, on sub-standard volume of ~60K (which is even more restricted when you consider that ~22K lots of that came from quarterly roll activity).
  • Looking ahead, the minutes from the latest FOMC decision headline the pre-Thanksgiving NY docket. We will also get flash PMI data, durable goods, new home sales, MBA mortgage applications, weekly jobless claims and the final UoM survey for Nov.