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Mixed Start

US TSYS

Cash Tsys have opened Asia-Pac dealing 1bp richer to 1bp cheaper across the major benchmarks, with some light twist steepening apparent, as participants digest yesterday's CPI print as well as a strong 30-Year auction. TYH3 deals at 115-07+, unchanged from Thursday's settlement and in the middle of its narrow 0-03+ range.

  • Price action in JGBs may be pressuring the long end of the curve at the margin, as 10-Year JGB futures remain heavy in early Tokyo trade and the 10-Year JGB bond yield has showed above the BoJ's permitted 0.50% ceiling.

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