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Narrow Ranges In Asia

US TSYS

TYZ3 deals at 105-20+, -0-01, a 0-06 range has been observed on volume of ~105k. Technically TY trend condition is bearish, support comes in at 105-10+ the Oct 19 low and bear trigger.

  • Cash tsys sit 1bp richer to 1bp cheaper across the major benchmarks, light twist steepening is apparent.
  • Tsys have observed narrow ranges in Asia with little follow through on moves.
  • A retreat from early session highs was seen as US Equity futures extended losses. TY saw support ahead of yesterday's lows and the early range persisted.
  • The latest monetary policy decision from the ECB provides the highlight in the European session today. Further out we have US wholesale inventories, GDP, US durable goods, initial jobless claims and pending home sales. We also have the latest 7-Year Supply.

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