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TYU3 Looking Through Tuesday’s Best


TYU3 looks through yesterday’s best levels, while cash Tsys run 1.5-3.0bp richer, with 5s outperforming on the curve. Focus is squarely on the impending CPI release, with 23bp of tightening priced into FOMC-dated OIS re: this month’s meeting and a cumulative 35bp of tightening priced through November. Beyond there, 62bp of cuts are showing through Jun ’24, today’s release will be key on this front, particularly for pricing beyond the next FOMC.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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