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Futures Edge Higher As Cash Remains Closed

US TSYS

TYZ2 is +0-01 at 114-25, working its way higher, operating around the top of a 0-04+ range in Asia-Pac dealing on volume of ~13.5K, with little by way of meaningful macro headline drivers observed.

  • The contract holds on to the bulk of its gains made on Friday, having extended a rebound from multi-month lows (114-10+) after UoM data saw a marginal, surprise decline in 5- to 10-Year inflation expectations (2.8% vs. BBG median 2.9%) to its lowest reading since Jul ‘21.
  • There remains plenty of event risk heading into the week, with policy decisions due from the FOMC (Wed), BOE (Thu), and BOJ (Thu).
  • A reminder that cash Tsys will remain closed today until NY hours owing to a holiday in Japan, and the observance of a bank holiday in London for the Queen’s funeral during the European session.

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