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Little Changed, Futures In Tight Ranges On Light Volume

US TSYS

Tsys are back to little changed on the day.

  • Mixed Spanish CPI data limited any late Asia/Early London buying, before speculation surrounding Japanese intervention in the JPY picked up, dominating desk talk.
  • TYM4 -0-02 at 110-18+, sticking to a very narrow 0-04 range on sub-par volume of ~168K.
  • Yesterday’s range in the contract and familiar technical levels are intact.
  • MBA mortgage applications headlines a very limited NY data calendar.
  • Fed Governor Waller will speak today.
  • FOMC-dated OIS shows ~77bp of ’24 cuts, with ~19.5bp of easing priced through June, sticking to familiar ranges.
  • On the supply front, 7-Year Tsy & 2-Year FRN will be seen.
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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