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Tsys Holding Near Lows Post-ISM

US TSYS

Not much of a react in rates, Tsys holding near lows after ISM Services PMI slips to 55.3 vs. 58.7 in Jan. Focus on: Price increased 7.6pt to 71.8, hitting the highest level since Sep 2008, while Order Backlogs ticked up 4.6pt to 55.2. Inventory Sentiment gained 4.6pt and rose to 54.3 -- helping outlook somewhat and spurring some selling in equities (ESH1 -26.0).
That said, two-way flow on decent volumes as sights set for Fri's Feb employment data and of course any late breaking news on fiscal stimulus passing Senate, latest headline: SENATE AWAITS CBO SCORE BEFORE ACTING ON STIMULUS BILL bbg.

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