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Rates trading bid, Tsy futures.........>

US TSY FLOWS
US TSY FLOWS: Rates trading bid, Tsy futures little off late overnight highs,
moderate volume (TYH<315k, Japan holiday), yld curves mildly steeper for most
part (5s30s +1.438, 51.897). Risk-off tone spurred by weak China trade data
overnight, global equities trade lower (SPX -20.5 at 2574.5), US$/Yen near lows
(-.37, 108.12).
- Limited data w/NY Fed Consumer Sentiment. Tsy auctions: 13- and 26W bills. No
Fed speak today, but picks up later in week.
- Overnight flow light/two-way early on, prop and leveraged$ buying
intermediates, real$ sellers of strength early London hours, macro fund
steepeners. 
- Q4 corporate earnings kick off in earnest this week, expect corporate issuance
to ramp up after financial names annc. Highlights (appr annc time, eps) Monday:
Citi just annc'd: $1.94B
Tsy cash/ylds: 2Y 99-31 (2.518%), 5Y 100-19 (2.495%), 10Y 103-28 (2.672%), 30Y
107-00 (3.016%)

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