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Curve Bear Steepens In Asia


TYZ3 deals at 107-17+, -0-05+, a 0-08+ range has been observed on volume of ~95k.

  • Cash sit 1-4bps cheaper across the major benchmarks, the curve has bear steepened.
  • In early dealing local participants have faded the bull flattening seen on Friday, the USD trimmed gains in early trade and US Equity futures were higher.
  • The move lower didn't follow through and tsys dealt in narrow ranges for the remainder of the session. Little meaningful macro news flow crossed.
  • There is a thin docket in Europe today, further out we have Empire Mfg and Fedspeak from Philadelphia Fed President Harker is due.

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