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Long End Bid Contained Despite Stock Rout

US TSY FLOWS
  • Risk-off support for Tsy futures across the board vs. stock rout (ESH2 4241.0 low), partially contained by domestic real$ and leveraged acct selling in 30s.
  • Pre-auction short sets in front end ahead $54B 2Y Note auction (91282CDV0). Two-way in 5s-10s over last three hours, misc accts.
  • 5s30s steepener, curve +1.956 at 53.014

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