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Early Extension Lower As Europe Settles In

US TSYS

European participants are keen to push the envelope further when it comes to weakness in core global FI markets as U.S. Tsy and German FI futures trade to fresh session lows after the turn of the hour. There hasn’t been anything in the way of fresh major catalysts observed overnight (outside of source reports surrounding Chinese GDP growth targets, including our own), with Asia-Pac participants seemingly focused on firmer than expected prices paid component in the latest ISM manufacturing survey as well as Wednesday's comments from Minneapolis Fed President Kashkari (’23 voter), as he noted that he has an open mind on a 25 or 50bp hike in March. 10-Year Tsy yields have held the latest foray above 4.00%, showing at 4.035% as of typing. Tsy flow has been dominated by various downside expressions in options, centred on the FV, TY & US contracts.

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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