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US TSYS

Cash tsys have opened flat to 1bp cheaper across the major benchmarks. TYH3 deals at 114-25, -0-02+, at base of its narrow 0-03 range. Spillover from JGBs post Tokyo CPI, core CPI printed marginally above expectations, weighed on tsys at the margins.

  • Participants look to Australian PPI data which is on the wires at the bottom of the hour.
  • A reminder that the Lunar NY Holiday will continue to impact liquidity in Asia-Pac hours with China still out.

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