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Bull Steepening Early On, With PMI & BoJ Impulses Eyed

US TSYS

Tsys lean on the dovish offerings from BoJ Governor Ueda and softer than expected French flash PMI data for support in early London trade, before a round of firmer than expected preliminary PMIs out of Germany (albeit with the manufacturing print still sub-40) helps cap the bid as Bunds are knocked off session highs.

  • TYZ3 now operates in a slightly wider 0-10+ range after sticking to narrow boundaries in Asia, last +0-03+.
  • Cash Tsys run 1-3bp richer, bull steepening.
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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