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Holding Pattern Ahead Of US CPI Data

US TSYS

TYH4 is trading at 111-30, +0-01 from NY closing levels, after giving up early gains.

  • Cash US tsys are trading flat to 1bp richer, with a steepening bias, in today’s Asia-Pac session.
  • With little in the way of meaningful newsflow, US tsys' recent performance is best seen as a holding pattern ahead of US CPI/PPI data on Thursday/Friday.
  • That said, another poor 10-year JGB auction result likely weighed on recent dealings.

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