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Risk move in full train.......>

GLOBAL MARKET/OPINION
GLOBAL MARKET/OPINION: Risk move in full train with Swissie strong and big
contract swings higher in Bunds and Treasuries. Looks somewhat like a second
reaction to the North Korean events. The Yen touched a new 6 week peaks against
the dollar but is not the obvious risk-aversion instrument, given that it is
close to the epicentre of the threat. Hence the correlation with the Treasury
future is holding back the Treasury market reaction.

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