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US TSY/RECAP: T-Notes operate well shy of yesterday's best levels after closing
well off of the day's high. Moves largely coincided with swings in the equity
space, with oil also in focus as OPEC+ convene in Vienna.
- Thursday was data heavy, headlined by ADP which came in softer than expected;
U.S. Trade deficit and Nonfarm Prod. came in line with expectations; Initial
claims came in higher than expected.
- Fed speakers Bostic & Kaplan pointed to being near neutral, sounding
relatively cautious compared to Williams earlier this week. WSJ wrote that
"Federal Reserve officials are considering whether to signal a new wait-and-see
mentality after a likely interest-rate increase at their meeting in December,
which could slow down the pace of rate increases next year."
- Fed's Powell & Williams both due to speak shortly, while U.S. NFP data
headlines on Friday. Fed's Brainard will also speak Friday.
- T-Notes last 120.09+, U.S. 10-Year cash Tsy yields closed at 2.895%.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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