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Treasuries are retracing some of....>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries are retracing some of Thursday`s sharp gains, as we
head into the Memorial Day holiday weekend.
- Jun 10-Yr futures (TY) down 9.5/32 at 124-29 (L: 124-27 / H: 125-00.5).
- Overnight, Tsys pulled back from best levels ahead of the close after rallying
hard for most of Thursday's session. U.S. President Trump noted that he expects
a "quick" trade deal with China, triggering a breather in futures.
- S&P E-mini has recovered about half Thursday`s losses (last up 0.7%), helping
keep downside pressure on Treasuries.
- Bit of curve bear flattening: 2-Yr yield up 1.8bps at 2.1641%, 5-Yr up 1bps at
2.1239%, 10-Yr up 0.9bps at 2.3273%, and 30-Yr up 0.5bps at 2.7587%.
- Our Tech analysts note the bullish picture for TY remains firmly intact with
the focus on the 125-07 level (Thurs's high).
- Eurodollar strip a little softer in Reds, but merely retracing some of
Thursday`s gains, and curve remains inverted (EDM9-EDM0: -0.485%).
- Data today includes Apr durable goods and St Louis/NY Fed GDP Q2 Nowcasts.
- Reminder of early market close Friday (1300ET), and Monday close.

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