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Bear Flattening After Long Weekend

US TSYS

Cash Tsys re-open with a bear flattening impulse after the elongated weekend, running 5-10bp cheaper across the curve. 3s lead the weakness, while 30s lag when it comes to the wider cheapening observed. As mentioned earlier, the early, light risk-negative impulse surrounding the EU sanctions on Russian oil exports has unwound, with TYU2 now looking through Monday’s low, last dealing -0-18+ at 119-18.

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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