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Limited Pre-FOMC Futures Trade In Asia

US TSYS

The combination of diminished Asian liquidity (including a cash Tsy market closure on the back of a holiday in Japan), proximity to the impending FOMC decision and a lack of meaningful macro news flow means that futures have meandered in narrow ranges during Asia-Pac dealing.

  • TYM2 is last -0-05+ at 118-11, sticking to the 0-05+ range that was established early in the session, operating on a limited ~49K lots. Weakness in Aussie bonds provided some very modest pressure, while the latest bout of Hang Seng Tech Index weakness, linked to an SEC probe into Didi Global’s NY IPO, and another missile launch from North Korea provided some counter.
  • Eurodollar futures sit 1.0 to 4.0 ticks below settlement levels through the reds.
  • Looking ahead, the aforementioned FOMC decision headlines on Wednesday (see our full preview of that event here), with the latest quarterly Tsy refunding announcement, ADP employment data and ISM services survey also due.
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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