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Move Away From Highs In Bunds Keeps Weds TY High Intact

US TSYS

A move away from best levels in Bunds seemed to limit the rally in Tsys, with TYU3 respecting yesterday’s high in the process. The contract is last at unchanged levels, 0-02+ off session highs.

  • Cash Tsys are essentially unchanged across the curve.
  • Macro headline flow remains relatively limited through early European hours.
  • FOMC-dated OIS terminal policy rate pricing remains sticky around 5.44%. ~48bp of cuts from terminal then shows through June ’24, little changed on the day after yesterday’s modest dovish adjustment.
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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