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USD Bonds Weather The Storm, Locals Bear Flatten w/w

  • Local rates subdued at the open, while the USD curve trades firmer on improved EM FI risk sentiment and softer USTs.
  • USD curve bull flattening , paring yesterday's sell-off in duration. Local curve remains steeper at the front-end w/w, most notably in 1-2Y tenors (24-33bp).
  • USD curve is pegged 5-11bp higher in the belly (5-8Y) and 7bp higher at the back end.
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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