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Off Best Levels

US TSYS

The earlier uptick in Tsys, which was aided by the block buying in TY futures that we subsequently flagged, has faded, with benchmark Tsys running 0.5bp cheaper to 0.5bp cheaper across the curve. Modest twist flattening is in play, with a pivot around 5s observed. TYZ2 trades in the middle of its 0-07 range, last dealing +0-01 at 112-18. News flow remains light, with block trade flow and cross-asset derived gyrations at the fore thus far.

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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