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Cheaper On Bank Earnings

US TSYS
  • Cash Tsys are holding most of the push lower on Wells Fargo and JPM earnings results, shifting from 1-2.5bps richer to 0.5-1.5bps cheaper across most of the curve.
  • TYM3 has only bounced 1.5 ticks off lows of 115-13. Support seen at the 20-day EMA of 115-06 after which would lie 114-18 (Apr 3 low).

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