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Pressured In Asia

US TSYS

TYZ3 deals at 107-00+, -0-06, a 0-10 range has been observed on volume of ~153k.

  • Cash tsys sit 1-5bps cheaper across the major benchmarks, the curve has bear steepened.
  • Tsys were pressured in the Asian session on spillover from ACGBs, in lieu of the minutes of the RBA October policy meeting.
  • Losses extended through the session alongside US Equity futures ticking lower and the USD firming. TY broke support at 107-02+ and the next support level is 106-03+, low from Sep 4.
  • Fedpseak from Harker crossed early in today's Asian session, he noted that the Fed shouldn't be thinking about rate increases as many small businesses are struggling with the tightening to date.
  • The data docket is relatively light in Europe today, further out we have retail sales, business inventories and industrial production. Fedpeak from NY Fed President Williams, Gov Bowman and Richmond Fed President Barkin is due.
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