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Initial Post-U.S. Data Bid Reverses

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The weaker-than-expected round of headline U.S. jobless claims, Philly Fed, building permits and housing starts data initially provided a bid for Tsys, but that has since reversed.

  • The firming of the prices paid component in the Philly Fed survey will have helped counter the initial reaction, but may not explain the totality of the move, with Tsys now below pre-release levels.
  • Broader core FI also sells off in recent trade.
  • We are looking for further drivers.
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The weaker-than-expected round of headline U.S. jobless claims, Philly Fed, building permits and housing starts data initially provided a bid for Tsys, but that has since reversed.

  • The firming of the prices paid component in the Philly Fed survey will have helped counter the initial reaction, but may not explain the totality of the move, with Tsys now below pre-release levels.
  • Broader core FI also sells off in recent trade.
  • We are looking for further drivers.