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Holding Most Of Post 20Y Auction Rally

US TSYS
  • Treasuries are holding onto most of the post auction bid after the 20Y re-open stopped through for the second consecutive auction.
  • The front end continues to lead with day’s rally with 2YY -3.5bp, but longer end now -1bp on the day across 10-30Y tenors after sizeable cheapening in the lead up to the auction.

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