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Narrow Ranges In Asia, CPI In View

US TSYS

TYZ3 deals at 107-09+, 0-04, a 0-04+ range has been observed on volume of ~77k.

  • Cash tsys sit flat to 1bp cheaper across the major benchmarks, light bear steepening is apparent.
  • Tsys have observed narrow ranges in Asia today, there was little follow through on moves and there was little in the way of meaningful macro news flow.
  • TY briefly dealt below Friday's low however losses were pared. We sit a touch above the 20-Day EMA (107-08+). The next support level is 105-27+ low from Nov 1.
  • Looking ahead, tomorrow's October CPI print is the highlight of the week's docket, headline CPI is expected to tick lower to 0.1% M/M and Core CPI is expected to hold steady at 0.3% M/M.
  • There is a slew of Fed speakers scheduled this week, Gov Cook kicks off the docket this evening.

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