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Marginally Firmer On Monday

US TSYS

TYU3 deals at 113-08, +0-00+, in line with late NY levels.

  • Cash tsys finished flat to 2bps richers across the major benchmarks, the belly led the bid.
  • Pre-2 Year auction hedging and rate-locking ahead of upcoming corporate issuance weighed on tsys early in the NY session.
  • In a data light session on the Dallas Fed Mfg Activity Index crossed, which was a touch lower than expected, facilitating a recovery off session lows.
  • The latest 2 Year auction stopped through, a strong bid/cover and indirect take up were observed.
  • The data calendar is light in Asia today. Further out we have a slew of US data including US new home sales, durable goods and Conference Board consumer confidence. We also have the latest 5-Year Supply.

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