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Pressured BY RBA After Quiet Asia Session

US TSYS

The hawkish RBA decision has applied pressure to Tsy futures into London hours, allowing the Asia-Pac session range in TYM2 to extend to a still narrow 0-07 band. The contract last sits +0-00+ at 118-11+, operating on a lowly ~45K lots.

  • A reminder that cash Tsys are closed until London hours owing to a Japanese holiday, while holidays in both Singapore and China are further limiting liquidity.
  • A brief Alibaba-related sell off in the Hang Seng provided the most modest of bids during early Asia dealing, although that faded and allowed Tsys to move back from best levels pre-RBA.
  • There wasn’t anything in the way of meaningful macro headline news flow to digest, leaving participants sidelined ahead of this week’s impending even risk (FOMC {& NFPs).
  • Wednesday’s NY docket will see the release of factory orders, final durable goods readings and JOLTS job openings.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepageBond Market News
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepageBond Market News

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