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Subdued Asia-Pac Dealings Ahead Of Fed Chair Powell’s Fireside Chat

US TSYS

TYH4 is trading at 109-30, +0-04+ from NY closing levels, after dealing in a relatively narrow range in today’s Asia-Pac session.

  • The session has been subdued with newsflow light. Accordingly, local participants have been content to sit on the sidelines ahead of Fed Chair Powell’s fireside chat later today. The FOMC media blackout begins Friday at midnight ET.
  • Today’s US calendar also sees the release of the ISM Manufacturing Index. Chicago PMI strength and other manufacturing surveys point to some upside risk.
  • Cash tsys are dealing flat to 1bp cheaper in the Asia-Pac session, with a slight steepening bias apparent, after yesterday’s month-end selling.

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