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Marginally Cheaper In Asia

US TSYS

TYU3 deals at 113-07, -0-03, a touch off the bottom of the observed 0-06 range on volume of ~43k.

  • Cash tsys sit ~1bp cheaper across the major benchmarks.
  • Asia-Pac participants faded yesterday's richening, perhaps focusing on Tuesday US housing data in early dealing.
  • A brief bid in the USD saw Tsys marginally extended losses however there was little follow through on the moves and narrow ranges persisted for the remainder of the session.
  • Little meaningful macro news flow crossed.
  • The UK's CPI report headlines in Europe today. Further out we have Mortgage Applications and Fed Chair Powell's semi-annual testimony to the House Services Panel. Also due to cross is Fedspeak from Chicago Fed President Goolsbee, and we have the latest 20-Year supply.

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