November 20, 2023 04:55 GMT
Pares Early Downtick Through Asia
US TSYS
TYZ3 deals at 108-23, -0-01, a 0-06+ range has been observed on volume of ~74k.
- Cash tsys sit 1bp richer to 2bps cheaper across the major benchmarks, light twist steepening is apparent pivoting on 5s.
- Tsys were pressured in early dealing as progress looked to have been made in the Israel/Hamas hostage release negotiations.
- Losses were pared through the Asian session as a mild risk-on tone developed. The USD was pressured, BBDXY printed its lowest level since September and the Hang Seng rose ~1.5%.
- German PPI headlines an otherwise thin European docket on Monday, further out we have October Leading Index, Fedspeak from Richmond Fed President Barkin and the latest 20-Year supply.
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