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Jefferies economists Ward..........>

US TSYS/RESEARCH
US TSYS/RESEARCH: Jefferies economists Ward McCarthy and Tom Simons said that
"for the market this week, it is hard to construct an argument against the
continuation of the relentless flattening" in US Treasuries "that has gone on
for the past several weeks."
- "The most interesting market to watch might be repo as the dearth of cash in
the market continues to pressure funding," they said.

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