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Marginally Richer Start

US TSYS

Cash tsys have open dealing ~1bp richer across the major benchmarks. Asia-Pac participants have faded yesterday's cheapening, as Fed rate cut expectations for 2023 were wound back in the NY session, perhaps using the opportunity to exit short positions/add fresh longs. TYM3 deals at 114-21, +0-02+, at the top of the 0-01+ range.

  • Participants look to the Australian labour market report, which headlines today's Asian session, the unemployment rate is expected to hold steady at 3.5%.

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