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Cash Curve Bear Flattens

US TSYS

The front end of the U.S. Tsy curve has led the early cheapening, with the major cash Tsy benchmarks sitting 1.5-4.0bp cheaper across the curve just after the re-open, bear flattening in the process. TYH2 sits in the middle of its early 0-05 range, last -0-03+ at 127-27. The previously outlined tweak to Goldman’s Fed call (slightly more hawkish for ’22) and weekend commentary from Bostic (which was probably less aggressive than some of the headlines that crossed the wires) have shaped early trade this week.

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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