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J.P.Morgan Expect 20-Year Supply Will Be Digested With Relative Ease

US TSYS

J.P.Morgan note that "Treasury will auction $24bn reopened 20-year bonds tomorrow, unchanged in size from last month's reopening. Yields have risen by 17bp since the December auction and the 20-year sector appears cheap versus the wings after adjusting for the level of yields and the slope of the curve. Thus we think tomorrow's supply will be digested with relative ease."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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