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Modestly Cheaper On The Day

US TSYS

Tsys are looking through their prior session lows in what has been a fairly limited round of Asia-Pac trade, with little in the way of meaningful macro headline flow observed since the official Chinese PMI data crossed. TYU2 operates in a 0-07+ range, last dealing -0-02+ at 117-14, with cash Tsys running 0.5-1.5bp cheaper across the curve, bear flattening. A round of screen buying of TYU2 futures (+2.5K) provided a modest uptick from lows in the last hour or so, but the impulse from that flow quickly faded.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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