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Curve Twist Flattens In Early Dealing

US TSYS

Cash tsys have opened dealing 6bps cheaper to 1bp richer across the major benchmarks. The curve has twist flattened pivoting on 7s. Asia-Pac participants have marginally faded the historic moves in the short end of the curve seen yesterday, perhaps using the opportunity to exit long positions ahead of today's CPI print. Heightened regional geopolitical tensions in lieu of the latest round of North Korean missile launches may limit follow through.

  • TYM3 deals at 114-11+, -0-09+, with a 0-06+ range observed thus far today.
  • A thin data calendar in Asia-Pac leaves participants on headline watch.

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