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Holding Cheaper


The earlier cheapening, as OPEC+ unexpectedly cut Oil production, has held through the Asian morning. WTI has pared gains of as much as 7% to sit ~5% firmer. This leaves cash tsys sitting 3-6bps cheaper across the major benchmarks, the curve has bear flattened. TYM3 deals at 114-26, -0-03+.

  • Participants look to Caixin Manufacturing PMI data from China which is on the wires shortly.

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