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T-Notes continue to operate in a tight......>

US TSYS
US TSYS: T-Notes continue to operate in a tight range after Apple's earnings
results/subsequent U.S. equity future strength & a marginally stronger than
expected Australian CPI release applied some modest pressure in early Asia-Pac
trade.
- Overnight option flow focused on the downside, with decent activity noted in
TYH9 122.50 calls (~18K traded all day), sellers dominated the flow, with talk
of delta hedging doing the rounds. Elsewhere, 15.0K of the TYJ9 121.00 puts were
blocked, with sources pointing to a buyer.
- Yields across the curve are marginally mixed on the day, with the belly
continuing to modestly underperform the wings.
- The Eurodollar strip trades unchanged to 0.5 tick lower through the reds.
- T-Notes last 121.22+, U.S. 10-Year cash Tsy yields last 2.715%.
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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