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T-Notes tight at the re-open, -0-03 at......>

US TSYS
US TSYS: T-Notes tight at the re-open, -0-03 at 128-07, after the contract
finished Thursday a touch above the middle of its intraday range, unwinding its
pre-NY losses (potentially aided by misses in domestic data), with the cash
curve twist steepening come the close.
- The space showed little in the way of tangible reaction after the House voted
to impeach President Trump (meeting exp., removal of Trumps et to be blocked if
motion ever reaches the Senate), with holiday season malaise setting in. Market
sources reported two-way positioning flow giving way to fast-money/prop buying
in shorts to intermediates, with real money buying seen in the long end.
- The 2-/10-Year spread printed fresh 2019 steeps on Thursday.
- Thursday also saw the first round of Fed term repo ops covering year end that
wasn't oversubscribed.
- Q3 final GDP, Nov PCE data, Kansas City Fed m'fing data and final UoM
sentiment readings will all hit on Friday.
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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