January 27, 2023 03:05 GMT
Cash tsys sit 0.5-2bps cheaper across the major benchmarks. TYH3 deals at 114-24, -0-03+, a touch off the base of its 0-05+ range. Post the Tokyo CPI print this morning JGB matters have dominated with pressure in JGBs spilling over into tsys, although we are a touch off session lows.
- With a thin data calendar for the remainder of the session participants are on headline watch, with one eye on cross-market flows.
- Liquidity remains impaired by the ongoing LNY holidays in China.