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Leaning On EGBs for Support

US TSYS

U.S. Tsys piggyback the bid in EGBs further as the latest ECB consumer inflation expectations survey reveals that “consumer inflation expectations decreased significantly - reversing most of the increases seen in the previous month.” Cash Tsys now run 2.0-3.5bp richer, with a bull steepening bias intact. TYU3 looks through yesterday’s high, with any extension there having the potential to turn bullish technical focus to the Jun 1 high (115-00).

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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