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The Tsy space extended on the..........>

US TSY/RECAP
US TSY/RECAP: The Tsy space extended on the overnight lows by the close of play
as equities moved higher and USDJPY consolidated above 107.00.
- The session was relatively quiet ahead of Friday's labour market report. Tsys
opened Thursday against a mild risk-on backdrop, with domestic data having
little impact on rates on Thursday.
- Flow was two way, with better fast- and real-money sellers in intermediates
seen later in the session, alongside decent deal-tied flow following a pick-up
in corporate issuance. Light curve flattener unwinds were also seen in 2s vs. 5s
& 2s vs. 10s.
- There was also decent option flow hedging short term downside risk in case of
a strong labour market report tomorrow.
- The eurodollar strip was weaker, going out around the lows.
- The domestic labour market report & comments from Fed's Powell & Williams
headline on Friday.
- T-Notes last at 120.17+, US 10-Year yield last at 2.832%.
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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