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Ticking Lower Still

US TSYS

A fresh bid for JPY crosses as S&P 500 e-minis move to near-neutral levels sees the Tsy space cheapen a little further, with a lack of meaningful headline flow evident since the previously outlined Shanghai COVID news. TYM2 hits fresh session lows of 119-07+ as a result. Meanwhile, cash Tsys sit little changed to 3bp cheaper on the day, as the bear steepening extends at the margin. Little to really flag in terms of market-specific movement, with cross-asset focus in the driving seat in Asia hours.

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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