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Light Spill Over From ACGB Cheapening

US TSYS

The weakness in ACGBS that we have fleshed out previously applied some modest pressure to Tsys, with benchmarks running 0.5-3.0bp cheaper across the curve at typing, as bear flattening of the curve becomes evident once again. TYZ2 registered fresh session lows on the move, but operates in a contained 0-06 range on limited volume.

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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