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TY Ticks Lower

US TSYS

TYZ3 has ticked away from session highs after cash Tsys re-opened after yesterday's closure. Perhaps local participants have used the move higher in bonds to enter fresh shorts/close long positions. TYZ3 deals at 107-24+, -0-02+, a touch off the base of the 0-07+ range.

  • This leaves cash tsys 12-16bps richer across the major benchmarks, the belly continues to marginally outperform.

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