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USD Finds Support In Early Trade

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NZGBs Cheaper To Start, China Matters Dominate

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Chinese Support For Property Sector Weighs

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Affirmations Across The Board On Friday

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Gains As China “Refines” COVID Rules

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US SWAPS
US SWAPS: Spds inch off early narrows, top end narrow range on better paying in
10s around 2.92-.92025%. Earlier flow included receiver in 1s at 2.6325%,
ongoing fly trade, receiver 2s5s9s after mixed fly flow coming into the session
w/receiving 2s3s4s and paying 3s4s5s, 3s4s spd curve steepener. Latest spd
levels:
* 2Y  +0.12/22.25
* 5Y  +0.25/14.00
* 10Y +0.12/6.62
* 30Y +0.12/-4.38

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