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REFILE: Modest Cheapening Observed

US TSYS

relabeling the previous bullet, which was incorrectly labelled AUSSIE BONDS

A light bid in e-minis and Atlanta Fed President Bostic (’24 voter) fleshing out his thought process re: a potential September pause when it comes to tightening (the idea of a Fed put never factors into his thinking, coupled with the reaffirmation that he is willing to take policy settings beyond neutral, if inflation doesn’t slow significantly) is placing some light pressure on Tsys in early Asia dealing. TYU2 trades -0-05 at 119-09+ as a result, 0-01 off the base of its 0-05 range and a little above its Tuesday trough (119-06+). Meanwhile, cash Tsys run 1-2bp cheaper across the curve.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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