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Edging Away From Best Levels


An uptick in e-minis (S&P 500 +0.6% & NASDAQ 100 +1.0%) has provided a light cheapening impulse in recent U.S. Tsy & ACGB trade, with the burden of impending benchmark 10-Year ACGB supply perhaps helping the move at the margin. That leaves YM +10.5 & XM +6.5, while wider cash ACGB trade sees the longer end of the curve sitting ~4.0bp richer on the day. EFPs are mixed, with the 3-/10-Year box twist flattening.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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