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Tight Range In Asia As Market Awaits FOMC Minutes

US TSYS

TYU2 stuck to a narrow 0-05 range during Asia-Pac hours, dealing either side of late NY levels, last -0-00+ at 119-12 on sub-par volume of ~45K, with Antipodean influences (namely the previously covered Australian wage data and RBNZ monetary policy decision) having very modest impact on price action. Cash Tsys run flat to 1.5bp cheaper on the day at present, with 7s providing the weakest point of the curve.

  • Looking ahead, UK CPI data will provide some interest during London hours, as will Eurozone GDP. Further out, Wednesday’s NY docket consists of the minutes from the most recent FOMC monetary policy meeting, retail sales data, weekly MBA mortgage apps. 20-Year Tsy supply and Fedspeak from Governor Bowman (although the topics of the discussion may limit the room for comments on monetary policy).
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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