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Off Lows In Sympathy With Move In JGBs

US TSYS

Nothing in the way of meaningful news flow, nor sizeable market flows, to drive the light richening away from cheapest levels of the day over the last hour, so we would point to the previously outlined move away from cheaps in JGBs as a likely driver. That leaves the major cash Tsy benchmarks running 1bp richer to 1.5bp cheaper as the curve twist steepens, while TYM3 is now mid-range, -0-03 at 114-15+.

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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