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Hugging Tight Ranges, Many Regional Participants Sidelined Ahead Of FOMC

US TSYS

Cash Tsys run 0.5-2.0bp richer across the curve, with the 7- to 10-Year zone leading the bid, while TYZ2 deals at the top of a narrow 0-05+ range on limited volume of ~29K. It would seem that the proximity to Wednesday’s FOMC meeting is keeping many Asia-Pac participants sidelined, with a lack of spill over from the recent round of budget-related richening in ACGBs evident.

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Cash Tsys run 0.5-2.0bp richer across the curve, with the 7- to 10-Year zone leading the bid, while TYZ2 deals at the top of a narrow 0-05+ range on limited volume of ~29K. It would seem that the proximity to Wednesday’s FOMC meeting is keeping many Asia-Pac participants sidelined, with a lack of spill over from the recent round of budget-related richening in ACGBs evident.