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Treasuries are off best levels......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries are off best levels early Wednesday as equities are
up from their lows, but upside pressure continues amid a global bond rally.
- Jun 10-Yr futures (TY) up 8/32 at 125-20.5 (L: 125-12 / H: 125-24.5)
- Short end outperforming: 2-Yr yield down 4.2bps at 2.0829%, 5-Yr down 3.6bps
at 2.033%, 10-Yr down 3.2bps at 2.2343%, and 30-Yr down 3.2bps at 2.6725%.
- 3M10Y notably hit new cycle low, last down -3.2bps at -11.6bps (L: -12.949).
- S&P futures below 2,800, seen as key level. WTI down 2% while DXY holding up.
- Eurodlr strip up 3.0-4.5 ticks in Reds through Golds.
- China newspaper headlines that Beijing may use rare earth exports as a weapon
in the trade war were nothing new but helped bolster the risk-off tone.
- Mainly second-tier data today; 7-Year Tsy auction in focus.
- Bank of Canada decision later may occupy some attention, our full preview is
available here: https://emedia.marketnews.com/BoC-May2019.pdf

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