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Screen Based Flows Push Space Lower

US TSYS

We haven’t seen much in the way of overt news flow to trigger the latest run lower in TYM2, with the contract lodging fresh session lows at 119-12. It would seem that the move was driven by screen-based flows in isolation, with the most notable round of flow seeing 2K lots given at 119-15/14+. Cash Tsys run ~3bp cheaper across the curve.

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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