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US TSYS

A bit of a turnaround for Tsys after the cheapening impulse surrounding the cash market re-open faded, allowing TYU2 to trade to fresh session highs, last +0-03 at 119-15, 0-02 off the peak of it 0-08+ range. Meanwhile, cash Tsys run 1bp cheaper to 1bp richer across the curve, twist flattening, with a pivot around 5s. There hasn’t been much in the way of fresh, meaningful news flow to drive the move, with a pullback in e-minis and a negative start for Hong Kong equities noted. Broader Tsy trade is still relatively contained.

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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