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Pressured After US Treasury Statement

US TSYS

Tsys have been pressured after the US Tsy released a statement noting that the Fitch report shows the swift need for bipartisan action. They also said that brinkmanship over the debt limit does serious harm to business, raises short term borrowing costs and threatens the credit rating of the US. This leaves cash tsys flat to 3bps cheaper, the curve has bear flattened. TYM3 deals at 113-03+, -0-10, a touch off the base of the 0-09+ range.

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