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### On back of the drop in gold (XAU slips.....>

GOLD
GOLD: ### On back of the drop in gold (XAU slips to 1776.65), 2yr yld tops
1.746%, the 2s10s spd slipped to new 10Y lows this morning: 60.676bp. Negative
correlation of gold vs. US$ also continues, dollar gaining vs. Yen, CAD and AUD.
Throwing equities into the mix, trading desks suggest the week opener is trading
like the "Trump trade theme is on again, higher stocks and higher yields," while
the tax reform making progress through Senate before the end of the year remains
debatable. 

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