US TSYS: Post FOMC Gains Pared
* Tsys have pared initial gains, leaving only a modest rally post-announcement.
* Yields sit 3.5-5bp lower on the day, 2s hovering back at 5% having touched as
low as 4.97% for a brief return to pre-ECI levels. They were 5.02%
pre-decision after peaking at 5.043% yesterday.
* TYM4 is back to 107-24+, roughly +03 post-announcement for +10 on the day. It
topped out at 107-29+ to remain within yesterday's range.