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This is not your typical trading............>

US TSYS
US TSYS: This is not your typical trading day...the sell-off in rates is not
correlated to (lower) equities today. A lot of traders stymied by the price
action today -- so various factors appear to be
1) Carry-over/knock on pressure from Gilts/Bunds, 
2) Carry-over/or resumption of selling after yesterday's FOMC minutes that were
deemed less dovish than expected
3) As noted in flow recap...take away roll volume and Tsy option hedging tied to
soon to expire March options, and markets are thin
4) Take #3 and factor in another day of decent corporate issuance, that rounds
up the reasons for current move lower in rates w/$10B in additional corp supply
today makes $55B on week -- above last weeks $46.25B.

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