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Mixed Start

US TSYS

Cash Tsys have opened 1bp richer to 1bp cheaper in a mixed start, with weakness in JGBs seemingly weighing on the belly/intermediates. TU futures respected Tuesday's session low, TY futures did not, although the broader space has edged away from early Asia cheaps. Participants are digesting yesterday's global data releases and continued repricing of the rate path for the major global central banks. TYH3 deals at 111-01+, -0-00+, a 0-03+ range has been observed thus far.

  • Participants look ahead to the RBNZ Monetary Policy decision, which headlines the Asia-Pac docket.

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