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Off Worst Levels On Cross-Asset Flows

US TSYS

As mentioned elsewhere, risk-positive flows (observed via a lower USD in FX trade and a firmer Hang Seng) seem to be supporting Tsys. That leaves the major benchmarks running little changed to 1bp richer, with the belly of the curve outperforming, resulting in some light bull steepening on the day after the early bear steepening impulse faded. General headline flow remains limited, leaving cross-asset-derived gyrations at the fore. TYH3 trades back towards its NY peak, last +0-12 at 113-00+, 0-01 of its recently registered Asia session high.

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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