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Trading has been fairly choppy in...>

US TSYS SUMMARY: Trading has been fairly choppy in the early going Thursday,
with Tsys remaining well off highs seen in the late morning U.S. session Weds.
- An early Tsy rally in the Asia-Pac session was nipped in the bud when the PBoC
set the USD/CNY fix at a lower-than-expected level, though TYs bottomed out not
long thereafter (around 2130ET).
- Still, TYU9 now trading 1-03+ lower than the Wednesday peak, today down
11.5/32 at 129-25.5 (L: 129-20.5 / H: 129-31.5).
- The 2-Yr yield is down 0.4bps at 1.6027%, 5-Yr is down 0.8bps at 1.542%, 10-Yr
is down 0.8bps at 1.7258%, and 30-Yr is down 1.1bps at 2.2415%.
- Eurodollar strip continuing to weaken, most contracts off 5.5-6 ticks.
- Not much in the way of data later: jobless claims, wholesale inventories/sales
highlight. And no FedSpeak, though watching for any unscheduled interviews etc.
- Likewise, any US-China trade updates will be keenly watched given headlines
over the last 24 hours (talks still on for Sep? Beijing still pushing back on
U.S. ag purchases? etc)
- $19B 30Y note auction at 1300ET.

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