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The bipartisan deal on debt.........>

US TSYS SUMMARY
US TSYS SUMMARY: The bipartisan deal on debt ceiling announced late Monday and
some positive noises on US-China trade front have Tsys on the back foot.
- Curve bear flattening: 2-Yr yield is up 1.7bps at 1.8291%, 5-Yr up 0.8bps at
1.8114%, 10-Yr up 0.3bps at 2.0498%, and 30-Yr up 0.3bps at 2.5741%.
- 3M/10Y most positive since May 23, +4.468 at 1.465bps, high 1.983bps.
- Sep 10-Yr futures (TY) down 3.5/32 at 127-15.5 (L: 127-13.5 / H: 127-18.5)
- Front end EDs off 2-2.5 ticks, tho saw upside EDQ9 buying earlier (0248ET):
98.00 calls for 1.25 in 8k moments before 40k blocked at 1.5 (50k total).
- Slightly stronger equities (S&P Eminis up 0.3%) amid risk-on tone.
- Data highlights: Jun existing home sales (1000ET) and regional Fed indices.
- Tsy supply gets back underway at 1300ET with $40B 2Y note auction.

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