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Marginally Richer Start

US TSYS

Cash tsys have open dealing 0.5-2bp richer across the major benchmarks, with some light bull steepening apparent. Asia-Pac participants are perhaps using yesterday's cheapening as an opportunity to close short positions/enter fresh long positions in early dealing. TYM3 deals at 115-01+, +0-02, at the top of the narrow 0-04 range observed thus far.

  • Participants look to the Retail Sales print from Australia at the bottom of the hour which headlines an otherwise thin Asian calendar today.

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