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Narrow Ranges For TY, Cash Closed In Asia, NFP In View

US TSYS

TYM3 deals at 116-09, -0-09, with a narrow 0-04+ range observed on volume of ~30k.

  • Cash tsys are closed in Asia today due to the observance of a national holiday in Japan and will re-open in the London session.
  • TY has observed narrow ranges with little follow through on moves, the proximity to today's NFP print as well as the reduced liquidity due to the aforementioned Japanese holiday may be keeping some participants on the sidelines.
  • The space looked through the latest SoMP from the RBA and a softer than forecast Caixin Services PMI print.
  • April NFP print provides the highlight data wise today, the MNI preview of the event is here. Fedspeak from Minneapolis Fed's Kashkari, St Louis Fed President Bullard and Fed Governor Cook will also cross.

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