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T-Notes moved to session lows of 119.10.....>

US TSYS
US TSYS: T-Notes moved to session lows of 119.10 on a bout of USD demand, with
the contract breaching Tuesday's low. However, follow through was limited as the
move lacked any fundamental catalyst.
- The cash curve is running a little steeper in Asia-Pacific dealing.
- News flow has been light, with Tuesday's major highlight being US President
Trump formally announcing the US withdrawal from the Iranian nuclear
accord/resumption of Iranian sanctions.
- The latest 3-Year Note auction provided in-line results in terms of a minor
tail & steady cover ratio/dealer takedown.
- The white & red Eurodollar contracts are trading 0.5 to 2.0 ticks lower.
- Fed voter Bostic makes an address on Wednesday & the US will come to market
via a 10-Year Note auction.
- T-Notes last at 119.11+, Tsy ylds: 2Y 2.518%, 3Y 2.650%, 5Y 2.823%, 7Y 2.940%,
10Y 2.987%, 30Y 3.141%
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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