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Nudging Away From Best Levels

US TSYS

We haven’t seen much in the way of idiosyncrasies to justify the downtick from best levels in Tsys over the last couple of hours, with familiar headline flow dominating the wires, leaving cross-market impact from the weakness in Antipodean rates and a round of cheapening in the longer end of the JGB curve as potential drivers. The major Tsy benchmarks now print 3bp richer to 1.5bp cheaper, as the curve twist steepens with a pivot around 10s. TYZ2 isits in the middle of its 0-09 range, last +0-02 at 110-20+.

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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