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Marginally Cheaper Start

US TSYS

Cash tsys have opened dealing ~0.5-1bp cheaper across the major benchmarks. Local participants have faded yesterday's cheapening, which was driven by firmer than forecast initial jobless claims, perhaps using the opportunity to enter fresh shorts/close out long positions. TYU3 deals at 113-15, +0-00+, a narrow 0-02+ range has been observed thus far.

  • The latest monetary policy decision by the BOJ headlines in Asia-Pac today, there is no change in policy expected.
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