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Asia Looking To Buy The Dip

US TSYS

Asia-Pac participants are seemingly happy to buy the FOMC-inspired dip in Tsys, leaving the major cash benchmarks 0.5-1.5bp richer at typing, bull flattening after the bear steepening witnessed in late NY dealing. Desks flag no real surprises in FOMC tapering plans and the continued patient stance of the Fed when it comes to rate hikes as supportive factors early on. TYZ1 has nudged further away from Wednesday's lows as a result, last -0-02+ at 130-22. Elsewhere, social media reports have pointed to the potential for a House vote on President Biden's Build Back Better plan and the bipartisan infrastructure framework on Thursday, citing House Majority Leader Hoyer.

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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