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Marginally Richer, Narrow Ranges In Asia

US TSYS

TYH4 deals at 112-16, +0-02, a range of 0-05 has been observed on volume of ~44k.

  • Cash tsys sit ~2bps richer across the major benchmarks.
  • Tsys have firmed in Asia today operating in narrow ranges for the most part. The space trimmed its losses seen in yesterday's NY session, participants perhaps used the opportunity to close short positions/add fresh longs.
  • Chicago Fed President Goolsbee noted this morning that the market may be getting ahead of itself when it comes to rate cuts, adding that such easing will only be justified if inflation continues to cool toward the central bank’s target (BBG).
  • CPI data from the UK provides the highlight in Europe today, further out we have Nov Home Sales and Consumer Confidence. We also have Fedspeak from Atlanta Fed President Bostic and Chicago Fed President Goolsbee due.

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