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Marginally Richer Start

US TSYS

Cash tsys have opened 0.5-1bp richer across the major benchmarks. Asia-Pac participants have faded the moderate cheapening seen yesterday amid no further signs of stress in the banking system, perhaps using the opportunity to exit short positions. TYM3 deals at 114-19+, -0-01, at the top of the narrow 0-02 range observed thus far.

  • Participants look to CPI data from Australia at the bottom of the hour which headlines the Asian session today.

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