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Marginally Firmer In Asia

US TSYS

TYM3 deals at 116-06+, +0-05, a touch off the top of the 0-05+ range on volume of ~55k.

  • Cash tsys sit ~2bps richer across the major benchmarks.
  • Asia-Pac participants faded the move seen late in the NY session, as tsys were pressured into the close, perhaps focusing on the ongoing US regional bank concerns. However moves have been limited with little follow through in Asia today.
  • A 1.5% fall from peak to trough in WTI futures in todays Asian session added a layer of support.
  • Flow wise a TU (3.25k lots) UXY (1.205k lots) block steepener was the highlight.
  • In Europe we have preliminary print of Q1 UK GDP, further out UofMich Consumer Sentiment crosses. Fedspeak from SF Fed President Daly, Fed Governor Jefferson and St Louis Fed President Bullard is on the wires.

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