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Modestly Richer To Start

US TSYS

Cash Tsys have opened Wednesday ~1bp richer across the major benchmarks. TYH3 deals at 115-04, +0-03, with a narrow 0-02 range observed. An early bid in Antipodean rates space, as New Zealand CPI was softer than RBNZ projections in its latest MPS, in both headline and non-tradeable terms, is helping at the margins, as is a bid in JGB futures.

  • Participants look to Australian Q4 and December CPI which is on the wires shortly.
  • A reminder that the Lunar NY Holiday will continue to affect liquidity in Asia-Pac hours, with China and Hong Kong still out.

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