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Light Selling In Early Cash Dealing

US TSYS

The initial rounds of cash Tsy trade have seen some light selling pressure, with the pre-cash open uptick in Tsy futures more than unwound, leaving TYM2 -0-05 at 120-11, 0-01 off the base of its early 0-07 range. Cash Tsys are 0.5-1.5bp cheaper across the curve. Hawkish rhetoric from Richmond Fed President Barkin (’24 voter) will have helped capped the early bid, while there seems to be a lack of regional Asia-Pac interest when it comes to extending on the post-CPI rally, at least for now.

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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