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No Reaction To Chinese Data

US TSYS

Tsys look through the Chinese data deluge, which included softer than expected Q2 GDP data, virtually in line industrial production readings and a beat for retail sales. The space has consolidated the bulk of its early Asia-Pac uptick, with TYU2 last +0-04+ at 118-20+, while cash Tsys sit 0.5-2.5bp richer across the curve, bull steepening. The benchmark Chinese & Hang Seng equity benchmarks are off their respective early session lows, although this hasn’t had any tangible spill over into Tsy trade.

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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