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Treasuries are slightly stronger....>

US TSYS SUMMARY: Treasuries are slightly stronger early Monday, though are still
far off last week`s highs following Friday`s sell-off.
- The Mar 19 T-Note future is up 1.5/32 at 122-11, having traded in a range of
122-035 to 122-135.
- Some bull flattening early: 2-Yr yield is down 1bps at 2.4835%, 5-Yr down
1.9bps at 2.4823%, 10-Yr down 2.5bps at 2.6428%, 30-Yr down 4.4bps at 2.9367%.
- Federal government (partial) shutdown ongoing, with Pres Trump offering
"concession" to build wall with Mexico out of steel instead of concrete. No sign
that this will be enough to end the impasse over border wall funding.
- Today sees a 2-day vice-ministerial trade summit between the U.S. & China get
underway & the release of the ISM non-manufacturing survey.
- Atlanta Fed's Bostic is the first of a number of Fed speakers this week
(Powell on Thurs), with Dec FOMC meeting minutes out on Wednesday.
- Tsy supply ahead: $78bn worth of 3-, 10- & 30-Year during the next few days.

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