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A Touch Cheaper Across The Curve

US TSYS

Cash Tsys are 1.0-2.5bp cheaper across the curve shortly after the re-open, with Asia-Pac participants seemingly happy to sell into the NY rally. TYU2 is last +0-07+ at 120-10+, dealing in the middle of its early 0-04 range.

  • There has been a lack of meaningful macro headline flow presented since the CME re-open, allowing traders to digest Wednesday’s two-way price action, Fedspeak, U.S. data, the firming of U.S. equities and lack of meaningful military escalation surrounding U.S. House Speaker Pelosi’s (now complete) trip to Taiwan.
  • There will also be an element of cognisance when it comes to the proximity to Friday’s NFP release, which may keep some sidelined, barring any meaningful macro news flow.
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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