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Weaker In Asia-Pac Trade

US TSYS

TYU3 is trading at 110-24, -03 from NY closing levels, after slightly paring early losses. With no news headlines of note, local participants appear to be digesting the message contained in the post-CPI sell-off during the NY session.

  • Yields climbed in the NY session primarily driven by news from the Treasury of a larger-than-expected budget deficit with outlays sharply boosted by higher interest payments.
  • A reminder there will be no cash tsy trading in the Asian session today as Japan is out for observance of the Mountain Day public holiday.

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