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Overnight Trade

US TSY FLOWS
Treasury futures trading mixed, carry-over weakness in the long end while yield curves reverse much of post-FOMC steepening in short to intermediates.
  • Improved volumes with Japan back from one day holiday, TYZ1>315k at the moment.
  • Overnight trade included decent Asian real$ support in intermediates during Asian hours, foreign real$ buying in 10s to 30s during early London hours. Swap desks note wider 3-7Y on illiquid conditions, general lack of issuance a contributing factor.

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