Free Trial

Tsys Firm Even With E-Minis Holding Steady

US TSYS

TYH2 is back from its early Asia-Pac highs, last +0-03 at 126-16+, while cash Tsys run little changed to 1bp richer across the curve, with the belly leading. TYH2 took out Thursday’s high at the Asia-Pac re-open.

  • E-minis have started to tick lower again in recent dealing, but the move higher in Tsys came before that. We would suggest two factors were at play here:
  • 1)Some focus on a story from the Times, which saw sources suggest that President Putin has made up his mind to invade Ukraine, citing senior UK government figures.
  • 2)Regional reaction to Thursday’s NY price action. Recall that regional risk-off flows had pulled back from extremes by the time Asia-Pac participants went home on Thursday. The subsequent stickiness in the worry surrounding Luhansk may have created some regional demand/short covering early on today, with the break of yesterday’s high in TYH2 generating further buying impetus.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.