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Bonds trades within the European open.........>

BONDS
BONDS: Bonds trades within the European open ranges. On the margin, bear
steepeners look favoured this morning with US 5/30s trading just above
yesterday's highs, now at 114.257.
-Volumes are above averages, following the PMI releases, with Schatz seeing 142%
volumes versus 10 days averages, as investors focused on this morning's 2yr
supply.

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