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Little Reaction To UK CPI, Light Bear Flattening Still Seen

US TSYS

Nothing in the way of meaningful spill over from the firmer-than-expected UK CPI data. TYH4 comes under some modest pressure but doesn’t threaten overnight/Tuesday lows. The contract last shows -0-00+ at 111-26+, 0-02 off the base of its 0-09 range. Cash Tsy yields are 0.5-3.0bp higher across the curve, bear flattening.

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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