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Back From Best Levels In Lieu Of Chinese PMI Data

US TSYS

TYH3 trades back from best levels in lieu of firmer than expected non-manufacturing PMI data out of China for the month of January (54.4 vs. median 52.0 & Dec 41.6), as markets zero back in on the feedthrough from China’s re-opening drive. The space had previously drawn support from the softer than expected retail sales data out of Australia, as a bid in ACGBs spilled over. TYH3 last deals +0-01+ at 114-10+, 0-01 off the base of its 0-05 range. Meanwhile, cash Tsys run flat to 1bp cheaper, bear flattening.

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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