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Marginally Pressured In Asia

US TSYS

TYM3 deals at 115-25, -0-04, with a narrow 0-05 range observed on volume of ~56k.

  • Cash tsys sit 2bps cheaper to flat across the major benchmarks, the curve has bear flattened.
  • Tsys have been marginally pressured ticking away from early session highs, however moves have been limited thus far and ranges narrow.
  • Chinese CPI and PPI data was softer than expected and WTI futures have firmed ~0.8% in Asia today.
  • FOMC dated OIS have ~75bps of cuts priced for 2023.
  • The latest monetary policy decision from the Bank of England is the highlight in Europe today. Further out we have US PPI and Initial Jobless Claims. Fedspeak from Minneapolis Fed President Kashkari and Fed Governor Waller will cross. We also have the latest 30 Year supply.

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