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Risk-Appetite Continues to Cool

US TSYS

Treasury futures making new session highs (30YY down to 2.665% vs. 2.2871% on the open) as equities continue to trade weaker (ESM1 at 4127.0 vs. 2122.0 recent low). Trading desks citing pandemic related concerns with Japan looking to call a state of emergency earlier, India PM Modi to address nation in the evening, while US/Russia tensions over troop build-up near Ukraine border only adding to current angst. Note, VIX vol index made new session highs again recently: 19.49 +2.20.

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