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Nomura N.American head of rate.......>

US TSYS/SUPPLY
US TSYS/SUPPLY: Nomura N.American head of rate research George Goncalves said
ahead of the Wed 8:30am ET US Tsy refunding announcement, "all eyes will be on
future US Treasury supply needs. In terms of ultra-long issuance, we expect the
Treasury to keep options open and not announce anything specific anytime soon.
Also, we expect T-bills to do a lot of the heavy lifting in facilitating
financing needs in the early days of SOMA rolloffs." 
- He adds "bond markets got defensive about the debt ceiling much earlier this
time. For now, the action was localized to T-bills, but UST coupons may be
affected down the line. The difference now is money funds have more T-bill
focus, and the Fed is tightening. We expect eventual resolution but it could
drag on if other matters take precedent in DC."

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