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Narrow Ranges In Asia, Docket Thin Today

US TSYS

TYH4 deals at 112-17, +0-04, a 0-05+ range has been observed on volume of ~55k.

  • Cash tsys sit 2bps richer to 1bp cheaper, the curve has twist steepened pivoting on 10s.
  • Tsys were marginally pressured in early trade as Asia-Pac participants digested Friday's Fedspeak from NY Fed President Williams as well as remarks on Sunday by Chicago Fed President Goolsbee.
  • A reminder Goolsbee said it’s too early to declare victory in the central bank’s inflation fight, and decisions on interest-rate cuts will be based on incoming economic data.
  • The move lower didn't follow through and Tsys ticked away from session lows as little macro newsflow crossed through the session.
  • Monday's docket is thin, NY Feds Services Business Survey and NAHB Housing Market Index cross as does more Fedpseak from Chicago Fed President Goolsbee.

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