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Weakness in Equities Helps Stabilise, CPI Spectre Looms Large

US TSYS

Tsys have recovered from session cheaps alongside the downtick in wider equity markets, with the major cash benchmarks now running 2.5bp cheaper to 1bp firmer across the curve, pivoting around 7s as the early twist flattening impulse holds. TY futures sit at unchanged levels, operating within a still contained 0-06 range. Early London flow has been dominated via selling of downside exposure and purchasing of upside exposure in FV options. Participants remain squarely focused on the monthly CPI release that will cross in NY hours.

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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