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Tight Start Ahead Of CPI

US TSYS

A narrow start for Tsys, with the major cash benchmarks running 0.5bp cheaper across the curve, while TYZ2 deals a little off the base of it 0-05 range, last -0-02+ at 111-13.

  • There hasn’t been much in the way of meaningful headline flow cross, outside of Fed Governor Bowman flagging uncertainty re: the required terminal rate of the current hiking cycle, as she reaffirmed the prospect of sizable hikes until inflation falls, alongside the need for restrictive policy settings for some time.
  • Participants remain focused on the upcoming CPI release, which could limit risk taking capability/appetite through to early NY 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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