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Carry-over weakness in Tsys as.........>

US TSY FLOWS
US TSY FLOWS: Carry-over weakness in Tsys as equities trade higher into month
end; decent futures volume (TYZ>435k), narrow channel on way down, recover
slightly w/bounce in Bunds over last couple hours, yld curves mildly steeper. 
- Data picks up today: September ADP private payrolls (187k est), Q3 ECI (0.7%
est) and Oct MNI Chicago PMI (60.0 est).
- Overnight flow includes bank portfolio selling in 5s and 10s, steepeners by
hedge fund, swap-tied selling in fronts to intermediates, fast$ and prop accts
buying intermediates more recently, deal-tied flow in the mix. 
- Ongoing chatter over month end rebalancing, large buy programs in equities
anticipated by some dealers.
- Tsy cash/ylds: 2Y 100-00.5 (2.863%), 5Y 99-18 (2.968%), 10Y 97-25 (3.138%),
30Y 92-27.5 (3.381%).

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