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TYH2 Tests Tech Support

US TSYS

TYH2 has tested technical support in the form of yesterday’s Asia-Pac low (126-22+), but operates a touch above worst levels, last -0-06 at 126-23. A Break of the aforementioned technical support level would expose the 1.236 projection of the Jan 13-19-24 price swing (126-16). Cash Tsys run 1-2bp cheaper across the curve, with the front end leading, resulting in some light bear flattening. There hasn’t been much in the way of notable market flow, while the previously flagged FT report pointing to the potential for a cooling in Russia-related geopolitical tensions (or at least a lack of escalation re: the matter) may have applied some pressure.

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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