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Relatively quiet start to week, Tsys...>

US TSY FLOWS
US TSY FLOWS: Relatively quiet start to week, Tsys trading firmer, near top end
of range, modest futures volume (TYM>270k). Limited second tier data, bill
auctions -- current focus on US/China trade w/headlines heralding a deal soon
(watching if/when some official on either side throws cold water on positive
sounding headlines). US Equities firmer but off early overnight highs (SPX +8.5
2813.5); US$ index higher/near highs (DXY +.112, 96.640).
- Overnight flow included early prop buying in 10s, real$ buying long end,
deal-tied selling intermediates as corp supply ramps up ($30B est/wk). Swap-tied
selling in 2s and 5s, spd curve flatteners. Mild fast$, spec selling 10s more
recently.
- Tsy cash/ylds: 2Y 99-28.62 (2.553%), 5Y 99-05.75 (2.550%), 10Y 98-30.5
(2.744%), 30Y 97-26 (3.112%).

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