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Futures Underpinned

US TSYS

TYU2 continues to operate just off best levels even with crude oil futures correcting from session lows. Demand for Tsy futures has been underpinned by regional participants reacting to Friday’s Fedspeak and the WSJ’s Fed whisperer suggesting that a 75bp rate hike is the most likely outcome come the end of the Fed’s July meeting (via a weekend article). TYU2 last +0-08 at 118-28+, 0-01 off its session peak, dealing on very limited volume of ~22K lots, with activity suppressed by the previously outlined Japanese holiday and related closure of cash Tsys until London hours.

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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