Free Trial

Marginally Richer In Asia

US TSYS

TYM3 deals at 114-21, +0-03, with a 0-05 range observed on volume of ~76k.

  • Cash tsys sit ~1bp richer across the major benchmarks.
  • Tsys firmed on spillover from ACGB's as Australia's unemployment rate ticked higher in April, however the move had little follow through and gains were pared.
  • Narrow ranges persisted for the remainder of the session.
  • A block buyer in TU (2.49k lots) added a layer of support.
  • FOMC dated OIS price a terminal rate of ~5.1% in June, there are ~60bps of cuts priced for 2023.
  • There is a thin docket in Europe today, further out we have Initial Jobless Claims and Philadelphia Fed Business Outlook. Fedspeak from Gov. Jefferson, VC Barr and Dallas Fed President Logan is on the wires. The latest 10 Year TIPS supply will cross.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.