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Some Flow-Aided Stabilisation Kicks In

US TSYS

Some stabilisation has been seen in the space over the last hour or so, aided by the 4.0K block buy of TYZ1 (and subsequent screen buying), with cash Tsys still running ~1.5-2.5bp cheaper across the curve on the day as of typing. An uptick in crude prices added fresh pressure to the space early on (WTI & Brent crude futures sit ~$1.00 above their respective settlement levels), building on the impetus from the weekend headlines, although TYZ1 remains comfortably within the confines of its post-NFP range. Headline flow has been limited, at best, since the re-open.

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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