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US Rates Unwinding Earlier Cheapening Pressure

STIR FUTURES

Some trimming of earlier cheapening pressure, SFRM3 lifted 2.5 ticks to 95.185 for little change on the day and with similar moves nudging into the red pack. 2Y Tsy yields also trimmed 2.5bps for now just +1.5bp on the day. Little sign of headline driver with an upcoming data focus on ADP employment in less than 45 mins.

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