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Light Richening Seen

US TSYS

A very light bid has been observed in Tsys during early Asia dealing, as regional participants react to Thursday’s disappointing U.S. & Eurozone PMI data, after hawkish Fedspeak from Governor Bowman and some bearish flow in futures knocked Tsys back from best levels as we moved through the second half of NY dealing. Cash Tsys run 1.0-1.5bp richer across the curve at typing, with some light outperformance in the belly. Meanwhile, TYU2 sits marginally above late NY/early Asia levels dealing unchanged vs. settlement at 117-21. There hasn’t been anything in the way of meaningful macro news flow to digest as of yet.

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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