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A strong start to the week for......>

US TSYS SUMMARY
US TSYS SUMMARY: A strong start to the week for Treasuries, bolstered by poor
European survey data this morning reversing early weakness in Asia-Pac session.
- Mixed newsflow on Sino-U.S. trade war saw Tsy futs move off early Asia lows.
Japanese holidays meant late start to cash open.
- Fairly light in newsflow in Europe, with most attention on very weak Sep flash
PMI data, especially for Germany. Tsys took their cue from a sharp Bund rally.
- Dec 10-Yr futures (TY) up 15.5/32 at 130-5.5 (L: 129-18.5 / H: 130-08.5).
- Curve flatter: 2-Yr yield is down 1.6bps at 1.6667%, 5-Yr is down 2.2bps at
1.5787%, 10-Yr is down 3.1bps at 1.6904%, and 30-Yr is down 3bps at 2.1315%.
- Surveys highlight the data docket: Chicago Fed Nat Activity index for Aug at
0830ET; then Markit flash Sep PMIs at 0945ET.
- Plenty of FedSpeak to get the week started: Williams (0950ET), Daly (1130ET) &
Bullard (1300ET) all appear; nothing scheduled Tuesday though.

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