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Limited Ranges, FV Blocks Cap Modest Upticks

US TSYS

Tsys continue to coil in narrow ranges, with TYZ2 dealing within a 0-05 boundary, last flat at 111-04+, while cash Tsys sit flat to 1bp richer across the curve.

  • Block sales in FV futures (2x 3.4K) seemingly capped a light uptick in the space, while there was no meaningful feed through after U.S. President Biden flagged a low chance of a “very slight recession” in the U.S., which doesn’t form his base case scenario.
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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