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Ticking Further Away From Best Levels, Cash Little Changed

US TSYS

Tsys continue to nudge further away from best levels, with e-minis little changed to 0.1% softer vs. settlement. Perhaps news that First Republic’s deposit situation has “stabilized” over the last month or so is playing into those moves, after the bank experienced sharper than expected deposit flight in Q1 (even when netting off the $30bn injected by the nation’s largest banks). Cash Tsys are now essentially unchanged on the day after rallying into the NY close and in early Asia-Pac trade on First Republic’s results, while TYM3 is +0-06+ at 115-02+, 0-04+ off best levels.

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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