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Richer In Asia-Pac Dealings, Bull Steepening Extended

US TSYS

TYZ3 is currently trading at 107-07+, +0-04 from NY closing levels.

  • Cash tsys are flat to 3bps richer across benchmarks in Asia-Pac dealings, with the curve steeper, as local participants extend the post-ADP employment data bull-steepening seen in yesterday's NY session.
  • There hasn’t been much in a way of meaningful newsflow in the Asian session so far.
  • Later today sees Weekly Claims, Trade Balance, and various Fed speakers: Cleveland Fed Mester, MN Fed Kashkari, Richmond Fed Barkin, SF Fed Daly and Fed Vice Chair Barr.

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