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US TSYS

TYZ3 deals at 106-11+, unchanged from Tuesday's settlement level, a 0-07+ range has been observed on volume of ~100k

  • Cash Tsys sit 2bps richer to 2bps cheaper across the major benchmarks, the curve has twist steepened pivoting on 5s.
  • Tsys firmed in early trade, ticking higher alongside US Equity Futures paring early losses and marginal pressure on the USD. The space looked through the firmer than forecast CPI print from Australia.
  • The move higher didn't follow through and Tsys ticked lower in narrow ranges for the remainder of the session.
  • Flow wise the highlight was a block seller (two clips of 3k) in TY.
  • The docket is thin in Europe today, further out we have New Home Sales and Fed Chair Powell provides welcome remarks at 2023 Moynihan Prize. We also have the latest 5-Year Supply.

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