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Free AccessQuiet end to the week, Tsys traded.....>
US TSY FLOWS: Quiet end to the week, Tsys traded weaker all day, extending move
after BTP/Bund spds reversed earlier widening (5Y -37.0 to 274.0) on the back of
comments from European Eco-Affairs Comm Moscovici: "EU'S MOSCOVICI: ITALY
STRONGLY COMMITTED TO EU, EURO", "EU WON'T INTERFERE IN ITALY ECONOMIC
POLICIES", "EU NOT WILLING TO LECTURE ITALY GOVT ON BUDGET" all bbg headers.
- Incidentally, pound sterling surged to session high of 1.3104 on headline:
"U.K. IS SAID TO DROP BREXIT DEMAND ON IRISH BORDER TO EASE DEAL" bbg;
pound-sterling scaled back move soon after.
- Risk-on tone tempered in second half as equities scaled back gains on couple
large program sales, tech and semiconductor heavy.
- Heavy two-way flow in EDZ8 Eurodollar futures, strong buying early as 3M LIBOR
didn't set as high as anticipated. FRA/OIS gapped 2.0 tighter -- but gradually
retraced move in second half w/EDZ'8 trading lower (total EDZ8 volume >610k).
- Tsy cash/ylds: 2Y 99-22.5 (2.908%), 5Y 99-06 (3.051%), 10Y 97-09.5 (3.196%),
30Y 92-28 (3.380%).
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.