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Narrow Ranges In Asia

US TSYS

TYZ3 deals at 106-10, +0-03, a 0-04+ range has been observed on volume of ~99k.

  • Cash tsys sit 2bps richer to 1bp cheaper, the curve has twist steepened pivoting on 10s.
  • Tsys have observed narrow ranges in Asia with little follow through on moves, light risk off flows as President Biden's meeting with Arab leaders was cancelled saw tsys tick away from session lows.
  • There was little follow through and tsys remained in narrow ranges for the majority of the session. The space looked through a strong Chinese Q3 GDP print.
  • In Europe today the September CPI print from the UK crosses. Further out we have House Starts, Fed Beige Books and a number of Fed speakers including Philadelphia Fed President Patrick Harker and New York Fed President John Williams.

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