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Marginally Richer In Asia

US TSYS

TYM3 deals at 112-21, +0-01, a 0-05+ range has been observed on volume of ~76k.

  • Cash tsys sit 1-2bps richer across the major benchmarks, the curve has bull steepened.
  • Tsys were pressured in early dealing as concerns over the US Debt Ceiling impasse weighed. House Speaker McCarthy noted that this is no agreement on the US Debt Ceiling. TY dealt below Thursdays lows, however the move did not follow through.
  • A recovery off session lows was seen as the USD retreated off best levels and e-minis pared early losses.
  • Tsys held richer for the remainder of the Asian session however ranges remained narrow and moves had little follow through..
  • In Europe today we have UK Retail Sales, further out US Consumer income, Wholesale Inventories, Durable Goods and UofMich Consumer Sentiment crosses.

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