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US TSYS

Early Cheapening Extends

JGBS

Firmer, Futures Show Above Recent High

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US TSYS
US TSYS: Futures lower in Asia-Pac trade, 10-Year future last down 4+ ticks at
124.31 retracing some of the move higher seen after FOMC minutes. Sources noting
stops hit around the 125 handle.
- Cash tsys also selling off, led by the 5-Year sector with yields up 2.4bp.
- Seen some decent volume in FV roll, 22k taking bid to 06+.
- US stock futures higher on risk on cross market flows. Dow futures up 32
points, S&P 500 futures up 3 points.

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