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Marginally Cheaper In Asia As Regional Matters Dominate

US TSYS

TYM3 deals at 115-23, +0-00+, a 0-08+ range has been observed on volume of ~65k.

  • Cash tsys sit 1-2bps cheaper across the major benchmarks, light bear flattening has been observed.
  • Tsys were marginally richer to start as the latest North Korean missile test provided a level of support in early trade. The move however had little follow through and tsys pared gains to sit marginally cheaper.
  • Pressure extended a touch as spillover from ACGBs in lieu of the Australian Unemployment rate holding steady weighed on tsys.
  • Losses were marginally pared and tsys dealt in narrow ranges with little follow through on moves for the remainder of the Asian session.
  • UK GDP and final German CPI provide the highlights in Europe. Further out we have PPI and Initial Jobless claims. We also have the latest 30-Year Supply.

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