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Bonds Paring Losses

US TSY FLOWS

Yield curves still steeper but off highs as long end attempting to recover from post BoE/ECB policy selling. Fading the move, trading desks report central bank selling in 2s and couple waves of buying in 30s, foreign real money selling 5s. Large steepener Blocks (5s and 10s vs. 30Y Ultra) since late Wednesday setting the tone after months of flattening.

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