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Marginally Richer

US TSYS

Cash Tsys have opened flat to 1bp richer across the major benchmarks.

  • Asia-Pac participants have marginally faded yesterday's cheapening as they digest yesterday's ISM Manufacturing Survey and Fedspeak, as well as the the latest round of firmer than expected inflation data out of Europe and relatively dovish rhetoric from BoE Governor Bailey.
  • TYM3 deals at 111-01+, +0-01+, with a narrow 0-01+ range observed thus far.
  • A thin data calendar in Asia leaves participants on headline watch.

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