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Marginally Richer In Asia

US TSYS

TYZ3 deals at 108-28+, -0-00+, a 0-07 range has been observed on volume of ~120k.

  • Cash tsys sit 1-2bps richer across the major benchmarks, light bull flattening is apparent.
  • Tsys have dealt in narrow ranges for the most part in Asia today, the space mostly looked through Japanese and Australian data releases as moves had little follow through.
  • Post-CPI highs remain intact for TY. The next target for bulls is 109-20, high from Sep 19. Support comes in at 107-00, low from Nov 13.
  • UK CPI provides the highlight in Europe today. Further out we have retail sales, business inventories, PPI and Empire manufacturing. Fedspeak from VC Barr is also due.

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