The Tsy curve has been subjected to some light twist flattening in early Asia dealing, with the major benchmarks running 1.5bp cheaper to 0.5bp richer. The belly leads the modest cheapening, while 30s are the only major benchmark to print richer at typing.
- TYZ2 operates in the middle of a 0-06+ range, a touch below late NY levels.
- More meaningful moves have been seen in FX, with the USD bid and as Asia-Pac participants fade some of Wednesday’s USD pullback.
- Headline flow has been light thus far.