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Regional Demand Develops

US TSYS

As mentioned previously, we are not seeing any overt headline triggers for this move in U.S. Tsys, with T-Notes last dealing +0-06+ at 132-02+, with the cash curve bull flattening as 30s richen by 3.5bp on the day. Perhaps some worry re: regional bonds in Asia, as flagged via the *ASIAN INVESTMENT-GRADE DOLLAR BONDS SELL OFF MOST IN A YEAR - BBG headline is creating some regional demand. The USD has also turned bid in recent trade, with USD/CNH printing at the highest levels seen since early December and fresh multi-month lows tagged in EUR/USD.

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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