November 07, 2023 08:17 GMT
Contained Two-Way Flow In Early London Trade
After fading to fresh session lows during early London trade, Tsys have recovered from cheapest levels of the day alongside a recovery from session lows in benchmark European equity future.
- That leaves TYZ3 +0-05+, a little above the middle of a 0-07 range.
- Cash Tsy yields are 1bp lower to 0.5bp higher, with the curve twist steepening at the margin.
- Headline flow remains light to start the day.
- Asia-Pac highlights saw mixed internals result in a narrower than expected Chinese trade surplus for October, while the RBA statement read dovish alongside a 25bp rate hike, triggering a rally in Aussie bonds, although there was only very limited spill over for Tsys.