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Narrow Ranges Persisting, Curve Marginally Steeper

US TSYS

Tsys are respecting narrow ranges in the Asian session, little meaningful macro news flow has crossed in recent dealing. Yesterday's post CPI highs in TY remain intact, however TU is sitting a touch above its post CPI levels. This leaves cash tsys flat to 4bps richer across the major benchmarks, the curve has bull steepened. TYU3 deals at 112-11+, +0-03, a touch off the top of the 0-05 range.

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