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Light Pressure On Equity Bid

US TSYS

Tsys come under some light pressure on the aforementioned move higher in e-minis, with TU & TY futures cracking through their respective Tuesday lows, although broader ranges remain somewhat contained. Note that there hasn’t been any fresh headline flow per se, but Alibaba-related spill over into the wider Chinese tech sphere and Micron’s better than expected guidance (released after hours on Tuesday) are seemingly the drivers for equities in early Asia-Pac trade. Wider cash Tsys run 3bp cheaper to 0.5bp richer as the curve twist flattens, pivoting at the 20-Year point.

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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