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Cash Tsys trade weaker at the re-open, with light bear steepening apparent. 20s provide the weak point on the curve, running a little under 1.5bp cheaper on the day. T-Notes have nudged away from Monday's best levels, last -0-00+ at 137-11+. Little to note on the headline front, with the aforementioned 5.0K TYH1 138.25/136.50 risk reversal block trade (buying puts to sell calls) highlighting in early Asia.