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Coiling Early On

US TSYS

Headline flow remains light at best with the market continuing to digest weekend news flow, which, in addition to the earlier Fed, Russia-Ukraine and Iran headlines, included the continuation of tight mobility restrictions in the Chinese city of Shanghai (with the need for city-wide COVID nucleic tests on Monday) and the potential for Russia to extend demands for RUB payment in a wider array of its exports (outside of natural gas).

  • TYM2 hasn’t been able to break out of the early range after some light cheapening on the back of the pullback in oil prices, although most of the early losses have been pared, with the contract last -0-06+ at 122-01. Meanwhile, cash Tsys sit 0.5-2.5bp cheaper on the day, bear flattening.
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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