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Curve Biased Flatter, Block Flow In Asia Helps

US TSYS

Tsys tick higher through early London trade.

  • The move came alongside a similar dynamic in Bunds, although headline flow remains light, meaning that we haven’t seen an overt driver.
  • TYZ3 last shows +0-10+, at the high of its 0-07+ session range.
  • Cash Tsys run 2.0-3.5bp richer across the curve, with light bull flattening seen.
  • Block flow in Asia-Pac hours helped the direction of travel, 4x FV/US flattener blocks (circa $1.4mn DV01).
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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