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Rates weaker/off lows to near middle...>

US TSY FLOWS
US TSY FLOWS: Rates weaker/off lows to near middle session range. Choppy month
end trade, decent spike in volume on the close (>100k TYU pushed total volume in
Sep 10Y >1.15M), large -17k FVU block sale at 118-05.25 (over 60k FVU into the
close). 
- Focus on Osaka G20 and US/China trade negotiations over data (Trump/Xi meeting
at 2230ET), otherwise quiet/consolidative ahead next week's shortened
Independence Day holiday closure Thursday, NFP on Friday.
- Muted/delayed react to another weak PMI at 49.7, first sub-50 reading since
January 2017.
- Not much new from Dallas Fed's Kaplan (non-voter) on Fox in early trade,
remains fairly patient on next move: too soon to change the stance of monetary
policy.
- Large option trade/blocks still favor upside (rate cut) insurance, paper
opened on appr 38k Red Sep'20/Red Dec'20 93/96/97/100 call condor strip.
- The 2-Yr yield is up 0.2bps at 1.7469%, 5-Yr is down 0.8bps at 1.7615%, 10-Yr
is down 1.4bps at 2%, and 30-Yr is down 0.4bps at 2.5256%.

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