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2-Year Yield Continues To Firm In Asia

US TSYS

2-Year Yields continue to par some of yesterday's losses, now up 16bps today, having fallen ~61bps yesterday in the largest one day decline since 1982. That leaves cash tsys sitting 16bps cheaper to 3bps richer across the major benchmarks, the curve has twist flattened.

  • In Fed dated OIS, there is now ~20bps of tightening priced into the March Fed meeting with ~75bps of cuts priced by December 2023.
  • TYH3 deals at 114-09, -0-12, a touch off session lows.

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