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Marginally Richer In Asia

US TSYS

TYZ3 deals at 105-24, +0-10+, a 0-10 range has been observed on volume of ~123k.

  • Cash tsys sit 1-5bps richer across the major benchmarks, light bull flattening is apparent.
  • Tsys ticked higher through the Asian session as risk-off flows added a layer of support, US Equity Futures are lower and the USD has ticked higher. President Biden noted in an address to the nation that he will be asking congress for ~$100 billion in resources for Israel, Ukraine, Taiwan and the US southern border.
  • There several highlights flow wise including buyers in TY (4.35k) US (2.65k) and FV (3k).
  • Fedspeak from Dallas Fed President Logan crossed early in the session, she noted she is not yet convinced that CPI is trending toward target but higher long term yields will give the Fed time to evaluate data.
  • German PPI and UK Retail Sales provide the highlights in today's European session, further out the data calendar is thin. Fedspeak from Philadelphia Fed President Harker and Cleveland Fed President Mester is due.

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