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J.P.Morgan: FRN Demand Should Remain Robust At Auction

US TSYS

J.P.Morgan note that Tuesday will see the Treasury auction "$28bn new-issue 2-year FRNs, unchanged in size from the last new-issue auction in January. With money market rates likely to head lower still and valuations attractive, we expect demand for FRNs will remain robust, and tomorrow's auction should 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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