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Bear Flattening Extends In Asia

US TSYS

Monday’s bear flattening extends after the initial parallel sell off witnessed at the cash Tsy re-open, with 2s running ~6bp cheaper on the day, while 30s sit ~2.5bp cheaper. Paper out to 10s registers fresh cycle highs in yield terms in the process, with contracts out to UXY (in maturity terms) printing through their respective Monday lows as a result.

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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