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The line between risk-on and........>

US TSYS SUMMARY
US TSYS SUMMARY: The line between risk-on and risk-off remains slightly blurry,
but caution is prevailing overall. Treasuries have climbed for most of the
overnight session Thursday despite a stabilisation in equities after a China
coronavirus-led selloff.
- A bit of softening from the highs, decent volume on the morning (355k TYs) but
that peaked around 0800ET amid price spikes across EGBs.
- Mar 10-Yr futures (TY) last up 5/32 at 129-22.5 (L: 129-17.5 / H: 129-26.5)
- Long-end strong: 2-Yr yield is down 1.9bps at 1.5096%, 5-Yr is down 2bps at
1.5551%, 10-Yr is down 2.4bps at 1.7447%, and 30-Yr is down 3.1bps at 2.1908%.
- Most focus today is likely to be abroad, with China quarantine headlines
driving markets overnight, and the ECB decision at 0745ET/press conf at 0830ET.
- Contact us for MNI`s ECB preview if you haven`t seen it.
- We get jobless claims at 0830ET, Kansas City Fed Mfg Index at 1100ET.
- $14B 10Y TIPS auction at 1300ET.

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