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### SHORT TERM OPPORTUNITY ARISING IN.......>

US TSYS
US TSYS: ### SHORT TERM OPPORTUNITY ARISING IN TSYS, TACTICAL CURVE PLAYS. 
- Strong rebound in Treasury curve (see latest levels below) comes amid light
pre-holiday volume, thin market depth as long end makes new late session lows --
move exacerbated position unwinds heading into the holidays. 
- Some market participants had suspected cessation in curve flattening after
last week's move to new 10+ year lows in 2s and 5s vs. 10s and 30s. While
volatile, current move sets tone for additional consolidation, steepening as
accounts square up positions heading into year end.
- Pull back to last week lows provides opportunity to enter tactical wideners or
consolidate flatteners as market unlikely to extend last week's 10+ year lows.
Accounts looking at short term range play as early 2018 may usher in renewed
curve flattening. Inversion a long way off, some dealers still expressing
caution, potential for. Current curve levels:
* 2s10s +4.570, 55.874 (56.053 session high)
* 2s30s +6.660, 91.400 (91.887 session high)
* 5s30s +4.629, 57.820 (58.512 session high)

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