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Cash Bonds Richer With A Steepening Bias After The Easter Long Weekend

US TSYS

TYM4 is trading at 110-27+, +0-01+ from NY closing levels.

  • Cash tsys have opened flat to 2bps richer across benchmarks, with a steepening bias, after resuming dealings after Friday’s holiday.
  • Today’s move partially unwinds the bear-flattening seen on Thursday’s shortened session.
  • Later today the US calendar sees S&P Global Manufacturing PMI and ISM Manufacturing data.
  • Also, Fed Governor Lisa Cook will give acceptance remarks for a lifetime achievement award in Washington.

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