TYM2 had a very shallow look below its Tuesday low in early Asia dealing, before edging higher, with Asia-Pac participants willing to lean against Tuesday’s weakness since the cash re-open. That leaves TYM2 at fresh session highs as I type, last dealing -0-00+ at 118-27, with the contract operating in a narrow 0-06+ range thus far. Cash Tsys run little changed to 2bp richer across the curve, with the front end leading the bid, resulting in some bull steepning.
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