March 10, 2023 03:26 GMT
Holding Richer, Curve Steepens
After a brief spike higher as the BOJ held policy unchanged, Tsys are holding onto gains seen earlier in the session as Thursday’s developments in the U.S. banking sector continue to reverberate. TYM3 briefly extended to session highs before moderating gains, and now sits at 112-04, +0-20+. Initial resistance moves up the Feb 17 high (112-18), with another round of more immediate resistance cleared. Cash Tsys are 3-8bps richer across the major benchmarks, the curve has bull steepened.
- An empty calendar (save BoJ Governor Kuroda's final press conference) leaves particiapnts on headline watch for the remainder of the Asian session.