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Holding Cheaper

US TSYS

TYU3 deals -0-05+, 0-02 off the base of its 0-11+ session range, while the major cash Tsys are 2.5-4bp cheaper with the belly/intermediates leading the move. This comes after JGB market dynamics and a bid in Chinese & HK equities helped the space soften in Asia-Pac hours.

  • The weekend saw Minneapolis Fed President Kashkari (’23 voter) stress the central bank’s data-dependent stance, along with a base case for the avoidance of a recession.
  • Outside of the local data release scheduled for NY hours, it is worth noting that Chinese policymakers are expected to outline further measures to support consumption in just over 30 minutes time, which has the potential to facilitate cross-market moves.
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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