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Narrow Ranges In Asia

US TSYS

TYZ3 deals at 107-25, +0-06, a narrow 0-04+ range was observed on volume of ~64k.

  • Cash tsys sit ~1bp richer across the major benchmarks.
  • The space has observed narrow ranges in Asia with little follow through on moves.
  • Tsys looked through comments from Minneapolis Fed President Kashkari who said it’s too soon to declare victory over inflation, despite positive signs that price pressures are easing.
  • There was also little spillover from ACGBs which firmed after a dovish 25bp hike from the RBA.
  • German Industrial Production provides the highlight in Europe today. Further out we have Trade Balance and the latest 3-Year Supply. There are a slew of Fed speeches due.

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