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Data And Block Flow Support In Recent Trade

US TSYS

Tsys lean on softer than expected French CPI for support in recent trade, as the data allows the space to tick away from session cheaps.

  • Cash Tsy yields are 0.5-2.0bp higher, with the 7-/10-Year zone leading the weakness.
  • TU/FV & TU/UXY block steepeners helped bias the respective curves in that direction during Asia-Pac hours.
  • TYH4 last shows -0-01+ at 110-08+, 0-03+ off the base of an 0-08+ range.
  • Early London block buys have provided support for that contract, on top of the European data flow.
  • Overnight, softer-then expected official PMI readings out of China did little for the space.
  • Looking ahead, PCE, weekly jobless claims and the MNI Chicago PMI survey provide the NY data highlights today.
  • Elsewhere, month-end index extensions and rebalancing flow (generally seen as negative for equities and positive for bonds) will be on the radar.
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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