Marginally Cheaper As Poland Points Towards To Article 4 & Uncertainty On Missile Launch

Cash Tsys print a touch softer in early Asia trade, running flat to 1.5bp cheaper across the curve, with 7s leading the downtick. This comes on the back of indications that Poland will likely activate NATO’s Article 4 on Wednesday, as opposed to Article 5, while the Polish President noted that there are still clear uncertainties when it comes to the question of who launched the Russian-made missile that killed two Polish civilians on Polish soil (as opposed to laying blame at the feet of Russia). TYZ2 has ticked lower in early Asia-Pac dealing, although operates in a still contained 0-05+ range.