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TYM2 Support Holds On First Test

US TSYS

TYM2’s previously flagged technical support at the Mar 12 ’19 low (122-12), based on a continuation chart, held to the tick on the first test, with the contract last printing off of worst levels, -0-10 at 122-14. Meanwhile, cash Tsys run 2-3bp cheaper on the day, bear steepening. Once again, there hasn’t been much in the way of fresh fundamental headline drivers to flag since the Asia-Pac re-open, with momentum remaining king for now, but the aforementioned technical support in TYM2 and the previously outlined bear channel top in 10-Year Tsy yields provide some market reference points that are worth watching.

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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