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A Touch Steeper In Asia

US TSYS

The latest move higher in crude oil and building of the Asia-based US$ issuance slate applied some modest pressure to U.S. Tsys during overnight trade. 2s print at unchanged levels in cash trade, while 30s are ~2.5bp cheaper on the day, with bear steepening in play. T-Notes are still holding to a tight 0-03+ range, with the contract last -0-02+ at 132-19, representing worst levels of the session. Volume isn't impressive, with ~50K T-Notes trading hands thus far, as liquidity picks back up after the Independence Day weekend.

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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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