TYU3 is sitting at Asia-Pac cheaps at 113-18+, -8+ from NY closing levels.

• Cash tsys are 1.6-4.9bp cheaper across benchmarks in Asia-Pac trade.
• With the Asian calendar, local participants are likely on headlines watch.
• With a debt ceiling deal freshly inked, the US Treasury is about to unleash a tsunami of new bonds to quickly refill its coffers. This will be yet another drain on dwindling liquidity as bank deposits are raided to pay for it — and Wall Street is warning that markets aren’t ready. (link)