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### POV: RATE SALE AS GLOBAL RISKS..........>

US TSYS
US TSYS: ### POV: RATE SALE AS GLOBAL RISKS REMAIN, part 2
- TD global rates strategists concur as they "doubled down" on their 10Y long
position recently amid "signs that US data is showing some signs of slowing.
While some retracement makes sense as 10y rates rallied 60bp in a short span,
the market may simply be taking profits and pricing in too much good news." TD
agrees that a US/China trade deal "remains elusive," while China stimulus:
"recent RRR cuts and an easing of foreign investment barriers are viewed
favorably," they are "unlikely to buoy weak global growth." 
- On the domestic front, "while "solid ISM services suggested no contagion of
weakness to US services...with consumers the only driving force behind the US
economy, the recent slowing in job creation is concerning."

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