Nothing to really note as Tsys pull back from best levels, with TYM3 last +0-05+ at 116-27+, 0-03 off best levels, while cash Tsys run little changed to 1.5bp richer as the curve bull steepens. There hasn’t been much in the way of meaningful headlines to drive the space over the last few hours, leaving flow and positioning adjustments at the fore, as opposed to fresh fundamental drivers.