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Colling, Light Bear Flattening In Play

US TSYS

TYU futures had a look below their overnight base as the Bund equivalent cheapened around the time of the old futures open, before a bounce in the latter became apparent, allowing the former to move back into its Asia-Pac range. That leaves the contract -0-03+, 0-01 off the base of its narrow 0-05+ range. Meanwhile, cash Tsys run 1-2.5bp cheaper across the curve with some light bear flattening in play. A move away from Friday’s post-Tokyo session highs in JGB futures probably aided the direction of travel in Asia hours.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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