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Paring London Gains With US Coming In

US TSYS
  • Cash Tsys are off highs but still trade 2-3bp richer after the earlier rally on notably softer than expected UK retail sales (ex fuel -2.4% Y/Y vs cons -1.5) helped breach some technical resistance levels across US, German and UK FI futures.
  • TYZ3 at 109-01+ is off an earlier high of 109-08+ that easily cleared 108-31 (Nov 14 high) to open 109-20 (Sep 19 high). Volumes are elevated at 475k.
  • Data: Housing starts/building permits Oct (0830ET), Kansas City Fed services Nov (1100ET)
  • Fedspeak: Collins (0845ET), VC Supervision Barr (0845ET), Daly (0930ET), Goolsbee (0945ET).
  • No issuance.

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