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Light Twist Flattening Of The Curve

US TSYS

Spill over from weakness in Gilts kept any rally linked to dovish BoJ-speculation limited, leaving cash Tsys running 1.5bp cheaper to 0.5bp richer as the curve twist flattens a touch. 2 block sales in FV futures (for a total of ~6.5K lots) applied some light pressure to the belly in Asia-Pac hours. TYU3 futures sit -0-01+ on the day, 0-01 off the base of a contained 0-06+ range.

  • There isn’t much in the way of meaningful macro catalysts slated for the remainder of the session, likely leaving headline flow and position adjustment ahead of next week’s key central bank decisions (Fed, ECB & BoJ) at the fore ahead of the weekend.
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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