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Pressured On Tuesday, 10 YY Highest Since Nov 2007

US TSYS

TYZ3 deals at 109-06+, +0-02+, in line with late NY levels

  • Cash tsys finished dealing 3-6bps cheaper across the major benchmarks, the belly lead the cheaps.
  • Tsys ticked lower through Tuesday's session as today's FOMC rate decision comes into view. The 10-Year Yield printed its highest level since November 2007 before marginally paring gains.
  • The move lower in the NY session came alongside the USD paring losses and firmer than expected Building Permits.
  • The latest 20-Year supply was on the screws, average bid-cover ratio and indirect take up were observed.
  • The 1-,5-Year MLF rate decisions from China highlight in Asia. Further out we have the FOMC rate decision and press conference which headlines today's docket.

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