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Rates trade weaker into weekly.........>

US TSY FLOWS
US TSY FLOWS: Rates trade weaker into weekly claims, continuing to pare back
risk-off move that started after Wed's weak 10Y auction. Despite decent volume
(TYU near 600k), tone is tenuous w/feel that market could turn on a dime (or
even extend the rate sale) depending on any given US/China trade related
headline.
- Rates rebounded earlier on Italy headline "Italy PM Conte to Meet President
Mattarella Today: Ansa" that spurred brief global risk-off move. Still off
overnight lows, Tsys retreated into the NY open and accelerated slightly after
weekly claims.
- Overnight flow included fast- and real$ buying into weakness in intermediates
to long end, swap-tied rate paying noted in 2s (1.5895%, 3s (1.498% and 10s
(1.606%), pre-auction short sets ahead final leg week's Tsy supply w/ US Tsy
$19B 30Y note auction (912810SJ8) awarded 2.644% previous.
- The 2-Yr yield is down 0.8bps at 1.5987%, 5-Yr is down 1bps at 1.5404%, 10-Yr
is down 0.3bps at 1.7309%, and 30-Yr is unchanged at 2.2522%.

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