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Treasuries also saw more recent..........>

US TSYS/7Y
US TSYS/7Y: Treasuries also saw more recent selling, after dip buying including
in 10Y Tsy futures (about 10,000 bought around 125-25/255 nr 9:50am ET). That
followed Tsys NY weaker opening after overnight two-way flows, then morning
pre-auction shorts/sales into 1pm ET US$28B 7Y auction and also cash sales in 2Y
through 10Y notes.
- Tsys also saw rate-lock hedges amid heavy corporate bond issuance. 
- JPM analysts Jay Barry and Jason Hunter noted on 7Y auction that "seven year
yields have risen modestly since the last auction, and are now trading at their
3-month average," they said. "Additionally, the 7-year sector looks fairly
valued on the curve. Given these factors, we expect" the "supply will be
digested with relative ease at current levels." 

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