May 20, 2022 01:45 GMT
Chinese 5-Year LPR Tweak Helps Wider Risk Appetite
US TSYS
Broader risk seems to benefitting from the 15bp cut in the latest PBoC 5-Year LPR fixing (which we have suggested is likely aimed at supporting the struggling Chinese housing market), allowing TYM2 to move to fresh session lows, -0-05+ at 119-17. Cash Tsys run 2-3bp cheaper across the cure, bear flattening.
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