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The Tsy complex has moved lower,............>

US TSYS
US TSYS: The Tsy complex has moved lower, alongside the break in JGBs, and last
operates around session lows. Up until then the space had spent most of the
early part of the Asia-Pacific session unwinding the early bid that came on the
back of headlines suggesting that the U.S. is considering levying a 25% tariff
on $200bn worth of Chinese goods, up from the prior 10%, although the sources
attributed did concede that the touted higher tariffs may not come to pass.
- The Tsy curve is trading a touch steeper last.
- The Eurodollar strip has edged lower, tracking Tsys.
- Focus on Wednesday falls on the FOMC MonPol decision, where the Fed is
expected to leave its MonPol settings unchanged and lay the groundwork for a
September hike (95% priced according to MNI PINCH). focus will be on any
commentary regarding the trade disputes, recent U.S. GDP data and the yield
curve.
- T-Notes last at 119.10, US 10-Year cash Tsy yields last at 2.975%.
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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