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Off Cheaps, Tight Ranges Intact

US TSYS

Tsys have ticked away from session cheaps but continue to operate in narrow ranges, with TYM3 +0-03+ at 111-03, while cash Tsys are flat to 1bp cheaper as the curve flattens at the margin. Macro headline flow remains light, with Asia-Pac participants on the lookout for Chinese trade balance data and looking ahead to the impending RBA monetary policy decision. The proximity to Fed Chair Powell’s semi-annual testimony to Congress (which will take place across Tuesday & Wednesday) is also a likely limiting factor when it comes to participation.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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