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Comfortably Shy Of Best Levels, Curve Flatter After Cash Catches Up

US TSYS

Tsys tick further away from Asia-Pac highs during the early rounds of London trade, with Euro Stoxx 50 futures bid.

  • That leaves TYZ3 a little off the base of a 0-14+ range, last -0-09 at 107-18. Yesterday’s session high held in Asia-Pac hours, before the contract pulled back to around the middle of yesterday’s range. Volume runs comfortably above average for this time of day, sitting at ~299K.
  • Cash Tsys are 9-13bp richer, with the curve flattening, although that does account for catch up after Monday’s Columbus Day-driven cash market closure.
  • Overnight flow saw a couple of block buys in TY futures (+9.5K in total), in addition to a FV/TY flattener (-5K/+3.5K).
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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