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A risk-on tone has prevailed to.....>

US TSYS SUMMARY
US TSYS SUMMARY: A risk-on tone has prevailed to open the week, with Treasuries
weakening slightly Monday.
- The Jun 19 T-Note future is down 7.5/32 at 123-315, having tested a 123-29 low
a couple of times. The 2-Yr yield is up 3bps at 2.2903%, 5-Yr is up 3.3bps at
2.2664%, 10-Yr is up 3.7bps at 2.4422%, and 30-Yr is up 3.4bps at 2.8478%.
- Curves are steeper across the board, with 3M10Y further into positive
territory.  3M10Y +3.217 at 4.096, 2Y10Y +1.094 at 14.99, 2Y30Y +0.731 at
55.549, 5Y30Y +0.01 at 57.973.
- Overnight economic data has helped boost risk appetite: UK and China March
manuf PMIs surprised to the upside. S&P E-Minis up 0.63% at 2860.5.
- Fed Chair Powell interviewed at AEA conference in Atlanta (alongside Bernanke
and Yellen) at 1015ET. Atlanta Fed's Bostic also due up at same time.
- Richmond Fed's Barkin speaks at 1330ET.
- US retail sales (0830ET) and manufacturing ISM (1000ET) are the day`s data
highlights.

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