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Light Cheapening Early On

US TSYS

Cash Tsys come under some light cheapening pressure in early Asia-Pac trade as regional participants react to Thursday’s market moves and Bullard’s hawkish Fedspeak, leaving the major benchmarks running 1-2bp cheaper across the curve, with 10s leading the weakness. TYZ2 has ticked back towards yesterday’s lows, operating in a 0-05+ range thus far. Slightly firmer than expected CPI data out of Japan may have had a marginal impact on Tsys, with wider macro news flow limited thus far.

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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