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Narrow, Light Twist Flattening

US TSYS

Participants are seemingly comfortable with current valuations, mostly looking through some pressure for the broader equity space during early Asia-Pac dealing. T-Notes have stuck to a narrow 0-02+ range thus far, last printing unch. at 132-18, with the previously flagged round of screen buying in TYM1 (totalling 3.0K lots) providing the highlight on that front. Cash trade has seen some twist flattening, with 30s firming by ~1.0bp while 2s sit ever so slightly cheaper on 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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