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Narrow Ranges On Thursday, NFP In View

US TSYS

TYH4 deals at 110-31+, -0-05+, in line with late NY levels.

  • Cash tsys finished 1-4bps cheaper across the major benchmarks, light bear steepening was apparent.
  • Tsys observed narrow ranges for the most part on Thursday, the space firmed off session lows as the latest weekly jobs data saw pre-NFP positioning add support.
  • Early Asian highs remained intact and Tsys ticked lower into the close.
  • The trend in TY is bullish, resistance comes in at 111-09+, high from Dec 7 then 111-19, 1.236 proj of Oct 19-Nov 3-Nov 13 price swing. Support is at the 20-day EMA (109-16+).
  • The final read of Q3 GDP from Japan headlines in Asia, further out NFP provides the highlight of today's docket. UofMich Consumer Sentiment is also due.

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