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There has been little impact of.....>

US TSYS SUMMARY
US TSYS SUMMARY: There has been little impact of the fall in Bunds/Gilts on US
Tsys during Thursday trade and remain in upper bound range having bounced off
Asian lows earlier. US 10-yr Tsy yield currently at 2.946%, 2bp lower than
Wednesday's close, while curve continues to bull flatten with 5s/30s spread
0.9bp tighter at 24.5bps.
- Tsys edged back towards pre-FOMC levels in afternoon of Asian session and just
before European session got underway, helped by 2 TYU8 blocks -- +2.6k @ 119-07
and +5k @ 119-12, as did reported demand out of Japan, which led to fresh
session high of 119-14 being printed.
- There was some pull back as Bunds slipped lower during European morning, but
remained underpinned by FOMC decision/statement last night. Attention now turns
key ECB decision and press conference and US advanced retail sales.
- Eurodollars are steady to higher, curve flatter as blue contracts are 2.5 to 3
ticks higher vs unch to 1 tick rise in whites.
- Both US breakevens and swap spreads are little changed.

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