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Marginally Richer In Asia, CPI On Tap

US TSYS

TYU3 deals at 111-11+, +0-03, a 0-05 range has been observed on volume of ~59k.

  • Cash tsys sit 1bp richer across the major benchmarks.
  • Tsys have been range bound in a muted Asian session on Wednesday, local participants are perhaps sidelined due to the proximity of today's June CPI print.
  • Support was seen on spillover from NZGBs, as the RBNZ held the OCR steady at 5.50%, however the move didn't follow through and tsys ticked away from session highs.
  • The highlight of today's docket is the latest US CPI print, the MNI preview is here.
  • There are a number of Fed speakers scheduled to cross including Richmond Fed President Barkin, Minneapolis Fed President Kashkari and Atlanta Fed President Bostic. The latest 10-Year Supply is also due.

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