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T-Notes a touch below Tuesday's settle,.....>

US TSYS
US TSYS: T-Notes a touch below Tuesday's settle, -0-04 at 130-19. Talk of an
off'l impeachment probe re: U.S. Pres. Trump (confirmed after hours) & to a
lesser degree, a downtick in consumer conf., fuelled a NY PM rally. Trump's
willingness to release a full, un-redacted transcript of the conversation with
his Ukrainian counterpart provided some brief respite, but the Democrat's case
seemingly reaches beyond the call itself, which allowed the underlying bid to
come back through, with fresh highs seen. The latest 2-Yr auction stopped
through by 1.0bp with the indirect share picking up at the expense of both
dealers & directs, as the cover ratio held steady, in line with recent avg.
Tuesday's NY Fed Repo ops saw oversub. in both the o'night & 14-day ops.
- Fedspeak saw non-voting dove Kashkari note that he could easily justify an
int. rate 50bp below current levels after he pushed for a bigger cut at least
week's FOMC. Kashkari also pointed to a pretty marked slowing in the job mkt.
- Elsewhere, Trump was unwavering on China & Iran in his address at the UNGA.
- Fedspeak is back at the fore on Wednesday, with Brainard, Evans & George all
due to appear. 5-Year supply will also be seen.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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