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The overnight repo market....>

US TSYS/OVERNIGHT REPO
US TSYS/OVERNIGHT REPO: The overnight repo market on Monday saw the ten-year
note tighten up to -2.25% vs. -1.00% Friday, while the old 5-year note loosened
up.
- The ten-year note tightened in what may be early anticipatory shorts heading
into next week's 3/10/30-year Treasury auctions, said traders.
- The now-old U.S. Treasury 5-year note meanwhile loosened to +0.05%
vs. -0.90% earlier, -0.40% Friday and a super-tight -3.50% rate on
Thursday. The old 5-year note loosened up after last week's settlement of the
2/5/7-year auctions, but may also have had curve-tied shorts, said traders.
- The Treasury General Collateral rate meanwhile traded fairly tight
at 1.08%.

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