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Bid On Soft French Data, Lagging Bunds & Gilts

US TSYS

Tsys firm in the wake of the much softer than expected flash services PMI reading out France (a surprise contractionary reading alongside a roughly in line, contractionary manufacturing print), richening by ~1.5-4bp across the curve vs. yesterday’s closing levels (flattening), but lag the session moves in both Bunds & Gilts (proximity bias). TYU3 firms to fresh session bests but remains within the range established in Thursday’s session.

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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