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US TSYS

Hard to decipher an overt driver for the uptick away from early session cheaps for Tsys, with the major cash benchmarks now printing 2.5-3.5bp richer across the curve. TYZ2 is +0-07+ at 111-08, at the peak its 0-13 range.

  • A reminder that the move comes after Thursday’s notable cross-asset swings in the wake of CPI data.
  • E-minis have unwound their early session downtick, and more, alongside the recent bid in Tsys, while Japanese stocks have pulled higher.
  • Headline flow has seen the PBoC Governor reiterate the need for prudent monetary policy, but that shouldn’t have provided any tangible market impact.
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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