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- Local rates open marginally softer, pulling back a portion of the gains made in the prior session.
- Yesterday saw the curve bull flatten -10.5bp in line with more positive EM FI sentiment and issuance curbs.
- 10Y yields failed to close below 9.10, opening up a possible retracement to 9.20, while 30Y yields trade above 10.90.
- W/w the local curve trades lower across the breadth, biased towards -10bp of bull flattening.