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The strong tone in Treasuries.......>

US TSYS SUMMARY
US TSYS SUMMARY: The strong tone in Treasuries post-FOMC continues Thursday
morning, with the short end continuing to rally.
- Sep 10-Yr futures (TY) up 3.5/32 at 127-31 (L: 127-26 / H: 128-08).
- Some bull steepening seen. The 2-Yr yield is down 1.9bps at 1.7162%, 5-Yr is
down 1.5bps at 1.7431%, 10-Yr is down 1.2bps at 2.0112%, and 30-Yr is down
0.3bps at 2.5322%.
- ED strip trading a little stronger, up 5-6 in  Whites and Reds.
- US weekly jobless claims data features later.
- We have just published our June FOMC review, including sell-side analysis
summaries. For further info please contact us.
- Main takeaway: several analysts who saw a hold through 2019 now see cuts, with
50bps in July being a prominent theme.

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