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Contained Two-Way Flow In Early London Trade

US TSYS

After fading to fresh session lows during early London trade, Tsys have recovered from cheapest levels of the day alongside a recovery from session lows in benchmark European equity future.

  • That leaves TYZ3 +0-05+, a little above the middle of a 0-07 range.
  • Cash Tsy yields are 1bp lower to 0.5bp higher, with the curve twist steepening at the margin.
  • Headline flow remains light to start the day.
  • Asia-Pac highlights saw mixed internals result in a narrower than expected Chinese trade surplus for October, while the RBA statement read dovish alongside a 25bp rate hike, triggering a rally in Aussie bonds, although there was only very limited spill over for Tsys.
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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