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Early Risk Negative Flows Subside

CROSS ASSET

A lack of fresh headline flow and no real curveballs when it comes to the EU sanctions on Russian oil exports has allowed the initial risk-negative impulse to fade a little, with S&P 500 e-minis finding a base just above 4,160, TY futures are back from best levels of the session, close to Monday’s lows, while USD/JPY is now ~20 pips higher on the day, just shy of Monday’s peak. Official Chinese PMI data will be eyed later in the Asia-Pac session, ahead of Eurozone CPI & a Powell-Biden meeting later on Tuesday.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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