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Trim Tuesdays Gain In Asia, Narrow Ranges


TYH4 deals at 110-24, -0-05+, a 0-09 range has been observed on volume of ~109k.

  • Cash tsys sit 1-3bps cheaper across the major benchmarks, light bear flattening is apparent.
  • Tsys trimmed Tuesday's gains in early dealing, Asia-Pac participants perhaps used the richening as an opportunity to square positions ahead of Friday's NFP print.
  • Ranges remained narrow and the move lower didn't follow through, tsys pared losses ticked away from session lows.
  • In Europe today German Factory Orders and Eurozone Retail Sales headline, further out we have ADP private payrolls and trade balance.

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