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Light Pressure As Buyer For SVB Confirmed


Tsys come under very modest pressure as the purchase of SVB by First Citizens Bank is confirmed, although the moves are limited at best, with the deal flagged in several source reports that crossed over the weekend. TYM3 last deals -0-02 at 116-01+, comfortably within the pre-existing overnight range, while cash Tsys sit 3.5 cheaper to 1bp richer across the curve, twist flattening with a pivot seen at the 20-Year point.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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