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Firmer Still

US TSYS

Tsys continue to richen as e-minis pull lower again, with TYU2 extending further through Thursday’s high in the process. TYU2 last deals +0-10 at 118-27, while cash Tsys run 4.0-7.5bp richer on the day, with the belly still leading. We haven’t seen much in the way of overt headline flow to drive the recent move, with most continuing to point to the seemingly ever-deepening growth worries/recession fear. Note that bulls in TYU2 look to the Jun 4 high (118-08) as the next level of meaningful technical resistance.

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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