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Little Changed In Muted Asian Session

US TSYS

TYH3 deals at 115-07+, +0-03, operating in a narrow 0-03 range on limited volume of ~30k.

  • Cash Tsys sit little changed across the major benchmarks.
  • Gyrations in JGBs set the tone through the Asian session, however with liquidity impaired due to Chinese and Australian holidays, there was little follow through in Tsys.
  • Macro headline flow was also scarce.
  • The space looked through 40-year JGB supply which passed smoothly.
  • There is a thin docket in Europe today. Further out we have a slew of data from the U.S. including Q4 GDP, new home sales and initial jobless claims. We also have the latest 7-Year Tsy supply.

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