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Tsys Futures Steady & Volumes Lows, RBNZ Policy Meeting

US TSYS
  • Treasury futures are trading back at NY closing levels, after initially trading up a touch. TU is -0-00⅜ at 102-08⅜, while TY is currently -0-01 at 110-12.
  • Volumes are are the low side, with TU 15k, FV 19k & TY 31k
  • Post NY close, there was a large 12,500 block seller of FV at 106-29+
  • The cash treasury curve is little changed early, with yields about 0.5bp higher. The 2y is +0.4bp at 4.630%, 7yr +0.5bps at 4.255%, while the 10y is +0.4bps at 4.300%.
  • APAC Markets: ACGB yields are 1-3.5bps higher, curve bear-steepens, NZGB 0.5-1.5bps higher ahead of RBNZ policy meeting shortly, while JGB yields are higher after reports saying the nation’s banks have called on the BOJ to make deep cuts to its monthly debt purchases

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