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NYC Bancorp Woes Continue

CROSS ASSET

NYC Bancorp equities experience some early NY cash trade vol. before being halted as the name shows 6.9% lower, that seems to be driving a bid in core global FI markets, while e-mini S&P 500 futures pull away from best levels of the day after bulls failed to breach the 5,000 mark. USD/JPY moves to match Tokyo session lows. Little in the way of fresh headline flow is apparent, with markets seemingly unimpressed by the Executive Chairman move and subsequent rhetoric from the firm.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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