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UXY Block Buy Helps Asia Tick Away From Lows Extend

US TSYS

The Powell & 30-Year Tsy auction-induced sell off has stalled, with the previous alluded to block buy in UXY futures (+1,750/DV01 ~$154K) allowing the modest Asia-Pac recovery from cheaps to extend further in early London trade.

  • That leaves TYZ3 +0-04 at 107-21, 0-02 shy of the recent session high.
  • The contract operates in a 0-12+ range after finding support a little ahead of the 20-day EMA.
  • Cash Tsy yields are 1-3bp lower across the curve with a light flattening bias seen.
  • A quick reminder that the Powell/30-Year auction combination allowed 10- & 30-Year Tsys to extend on the bounce back from multi-week lows.
  • 2s10s and 5s30s sit just above month-to-date flats.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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