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Marginally Cheaper In Asia

US TSYS

TYU3 deals at 112-28+, -0-05, a 0-07+ range has been observed thus far.

  • Cash tsys sit 2-4bps cheaper than Friday's closing levels across the major benchmarks, the curve has bear steepened. Cash US markets were closed yesterday for the observance of a US holiday.
  • Tsys firmed off session lows, on spillover from ACGB's rallying after the RBA minutes of the June policy meeting.
  • The move didn't follow through and tsys ticked away from session highs, holding marginally cheaper.
  • Flow wise a block buyer in TU (2k lots) was the highlight.
  • There is a thin docket in Europe today. Further out we have Housing Starts and Philadelphia Fed Non-Mfg. Fedspeak from St Louis Fed President Bullard, NY Fed President Williams and VC Barr will cross.

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