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Bit of a risk-on move as a new.........>

US TSY FLOWS
US TSY FLOWS: Bit of a risk-on move as a new month/quarter gets underway,
support for global risk assets after positive China data and US trade noise.
Decent futures volume (TYM>420k), yld curves mostly steeper (3M10Y +2.961,
3.840); US$ index softer (DXY -.171, 97.113); equities near earlier highs (SPX
+20.0, 2857.75).
- Overnight flow included fast$ selling 2s, fund manager buying 3s, two-way in
intermediates from bank portfolios and leveraged accts, better selling out the
curve.
- On tap for Monday: Feb retail sales; Mar final Markit Mfg Index; March ISM
Manufacturing Index; Feb construction spending and Jan business inventories. Mkt
eager to see latest employment data for March Friday after last month's huge
miss of only 20,000 job gains.
- The 2-Yr yield is up 2.8bps at 2.2882%, 5-Yr is up 3.5bps at 2.268%, 10-Yr is
up 3.7bps at 2.4422%, and 30-Yr is up 3.4bps at 2.8478%.

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