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Tsys Futures Slightly Lower, 2Y10Y Holds Below -50bps

US TSYS
  • Another slow start to Asia trading this morning, futures are a touch lower with TUU4 at -0-01⅛ at 102-04+, while TYU4 is -0-03+ at 110-15+ just above the overnight lows at 110-14.
  • Cash treasury curve has continued the bear-steepening move, with yields flat to 0.5bps higher this morning, the 2Y +0.6bp at 4.749%, 5Y +0.3bp at 4.279% while the 10Y was unch at 4.248%, the 2y10y is back below -50 at -50.759.
  • APAC markets are also little changed this morning, ACGB & NZGB curves are flatter while the JGB curve has bear steepened.

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