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Back From Best Levels

US TSYS

A lack of fresh news-related impulses since the previously outlined Russian troop-related headlines (which didn’t reveal much new on net), coupled with the cross-market impetus from continued steepening and cheapening in the JGB space, has seemingly capped the early uptick in U.S. Tsys. That leaves TYH2 +0-03+ at 125-29+ at typing (with the early 0-07 range holding). Meanwhile, cash Tsys run 0.5-2.0bp richer on the day, with the space back from firmest levels, although the bull steepening impetus remains intact.

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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