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Ticking Away From Session Highs

US TSYS

Tsys have ticked away from session highs in recent dealing, and now sit in line with levels late in Tuesday's NY session. Perhaps that the aforementioned Fitch downgrade was based on governance and medium term fiscal challenges but not new fiscal information helped cap gains. This leaves cash tsys flat to 2bps richer, light bull steepening remains apparent. TYU3 deals at 111-03+, +0-07+, a 0-07+ range has been observed thus far.

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