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Marginally Cheaper In Asia

US TSYS

TYZ3 deals at 108-00, -0-04, a 0-07+ range has been observed on volume of ~98k.

  • Cash tsys sit ~1bp cheaper across the major benchmarks.
  • Tsys have ticked lower, albeit in narrow ranges, on Wednesday as perhaps participants used yesterday's richening as an opportunity to close long positions/add fresh shorts.
  • There was little in the way of meaningful macro news flow in Asia today. WTI briefly dealt below the $77 handle before paring losses.
  • Eurozone Retail Sales and the final read of German CPI headline in Europe today. Further out we have US wholesale inventories and New York Fed President Williams speaks. The latest 10-Year Supply is due.

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