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Marginally Firmer In Asia

US TSYS

TYM3 deals at 115-11+, +0-04, a touch off the top of the 0-06 range on volume of ~50k.

  • Cash tsys sit ~2bps richer across the major benchmarks.
  • Tsys firmed through today's Asian session benefiting from spillover from ACGBs in lieu of falling Australian Consumer Confidence and the minutes of the May RBA meeting noted that the 25bp hike was finely balanced.
  • Moves have had limited follow through as we remain well within recent ranges.
  • A meeting between President Biden, House Leader McCarthy and other congressional leaders has been scheduled for Tuesday afternoon.
  • In Europe today preliminary Eurozone GDP is on the wires, further out Canadian CPI and US Retail Sales, Industrial Production and Business Inventories cross. Fed VC Barr testifies before Congress and Fedspeak from Cleveland Fed President Mester, NY Fed President Williams and Chicago Fed President Gooldsbee crosses.

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