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Block Flow Helps Space Lower, 10s Probe 4% Again

US TSYS

The previously covered block sales in FV & TY futures help keep the cheapening pressure on, with TYM3 now through Wednesday’s base and cash Tsy yields running 2-5bp higher across the curve. The front end continues to lead the weakness in the wake of Fed Chair Powell’s hawkish warnings, while 10s are probing the 4% level once again (after failing to hold above the round number on Tuesday).

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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