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Modest Pressure Creeps In

US TSYS

Regional participants are happy to sell Tsys at the cash re-open even as e-minis tick lower (ESM1 back below 4,200), with the Tsy curve running a little steeper, printing unchanged to ~1.5bp cheaper across the key benchmarks. A reminder that the cash Tsy market was closed during yesterday's Asia-Pac session, owing to a Japanese holiday, with the same story in play Monday through Wednesday of next week (with a Chinese market holiday also set to sap liquidity over that period). T-Notes last -0-03+ at 131-28, at lows of the day.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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