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Under Light Pressure On Externalities, Tight Ranges Seen Thus Far

US TSYS

Overnight weakness in Tsys was centred on the latest purchase size adjustment re: BoJ Rinban operations and the formalisation of the short-term Israel-Hamas ceasefire agreement and hostage exchanged.

  • The space then worked away from softest levels of the session before cross-market derived weakness (from both Australia and Europe) filtered back in.
  • That leaves TYZ3 within yesterday’s boundaries, -0-01 at 128-29, 0-02 off the base of a 0-08 session range.
  • Cash Tsy yields run 1-2bp higher on the day, with the belly leading the move.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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