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MUFG Secs Americas rates...........>

US TSYS/RESEARCH
US TSYS/RESEARCH: MUFG Secs Americas rates strategist John Herrmann said today's
2pm ET July 25-26 FOMC Meeting Mins "may be a touch 'stale' as economic, mkt and
corporate earnings data" since then have "been far more constructive than
consensus expectations." 
- But he adds "still" it's key to read minutes "carefully for any nuances upon
the monetary policy outlook" but "NY Fed Pres. Dudley's comments on Aug. 14th
are more current" since they incorporate "fully the latest stream of positive
data on the health of corporations, labor markets and the economy." He said the
Dudley comments suggest "at least some influential FOMC participants are
increasingly confident that a Sept. launch of its Balance Sheet Normalization
program likely may go off without triggering a 'tantrum' in long-dated Tsy Bond
prices." 

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