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Narrow Ranges In Asia, Powell Speaking Today

US TSYS

TYZ3 deals at 107-19, +0-02, 0-010 range has been observed on volume of ~151k.

  • Cash tsys sit ~1bp richer across the major benchmarks.
  • Tsys firmed off session lows as participants perhaps used the early move lower to square short positions with spillover from ACGBs, which firmed a touch after the RBAs SoMP, adding a layer of support.
  • Tsys held marginally firmer dealing in a narrow range for the remainder of the Asian session.
  • TY briefly dealt below Thursdays lows before paring losses, support came in ahead of the 20-Day EMA (107-08). Resistance is at 108-25, high from Nov 3.
  • September GDP and Industrial Production from the UK provides the highlight in Europe today, further out we have the latest UofMich Survey. There are a number of Fed speakers including Chair Powell who speaks on a panel at the IMF Conference.

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