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Marginally Cheaper In Asia

US TSYS

TYM3 deals at 111-17+, -0-02, a touch off the base of a narrow 0-04+ range on volume of ~56K.

  • Cash Tsys sit 1-2bp cheaper across the major benchmarks, mild bear flattening has been observed.
  • Tsys pulled back from best levels seen in early Asia cash dealing as a similar move in ACGBs spilled over. There was no headline driver for the move.
  • Narrow ranges were observed for the remainder of the session as Tsys struggled to recover from session lows.
  • Flow-wise a block seller (-3,812) in TU headlined.
  • CPI and PPI data from France, and several BOE speakers headline in Europe. Further out we have Wholesale Inventories, and MNI Chicago PMI. Fedspeak from Chicago Fed President Goolsbee will also cross.

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