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Some weakness in the e-mini space, led by the NASDAQ in the wake of Amazon earnings & guidance, has provided some support for Tsys overnight. A downtick for some of the large Chinese tech equity names also helped the bid. T-Notes last print +0-05 at 134-12, which represents bests levels of the day, on volume of ~120K. The cash Tsy space has bull flattened, with the short-end of the curve ~0.5bp richer on the day, while 5+-Year paper prints ~2.0bp richer, unwinding some of yesterday's bear flattening. 2x 6.0K screen lifts of TYU1 (each equating to $490 DV01 equivalent) headlined on the flow side.• To recap, Tsys softened on Thursday, although they finished a little off of NY cheaps, with some bear steepening in play on the curve as the shorter end finished little changed while the longer end cheapened by ~4.0bp. The stabilisation and indeed relief rally in the Chinese equity space was probably the core building block that Thursday's move was bult on, with the U.S. equity space also seeing a modest uptick. Some idiosyncratic drivers also added to the macro theme, with Apple announcing a 4-part round of issuance ($6.5bn) Advanced U.S. Q2 GDP data missed exp. which provided a knee-jerk lift for Tsys, although analysts were quick to point to the inventory-driven nature of the release. The weekly jobless claims data wasn't as favourable as exp., with some modest upward revisions to the previous week's readings also seen. 7-Year Tsy supply tailed by 1.0bp, with the cover ratio ticking lower, moving below its recent average, while dealer participation nudged higher, although it held below its own recent average.• Friday's U.S. docket is headlined by PCE data and the latest MNI Chicago PMI reading. Elsewhere, St. Louis Fed President Bullard ('22 voter) will speak on the economy.