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Off Session Highs

US TSYS

Tsys have pared gains in recent dealing. The earlier bid had been capped as TYM3 failed to break its NY high (116-08), and 2s failed to break the 3.75% yield which had also happened in yesterday's NY session. As such tsys have ticked away from session highs.

  • This leaves cash tsys 1-3bps richer across the major benchmarks, the curve has bull flattened. TYM3 deals at 115-31+, unchanged from yesterday's settlement levels.
  • Asia-Pac participants remain on headline watch.

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