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Treasuries are trading a little.....>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries are trading a little stronger amid a risk-off
Tuesday, ahead of the much-anticipated 2-day FOMC meeting kick-off. 
- Our full FOMC preview (incl 30 sell-side note summaries) went out yesterday
afternoon U.S. time; please contact us if you would like a copy.
- US Sep 10-Yr futures (TY) are down 1/32 at 127-13.5; stocks under some
pressure. E-Mini -0.3%, global markets weaker with bank stocks leading the way.
- Tsy curve bull steepening: 2-Yr yield down 1.8bps at 1.8399%, 5-Yr down 1.3bps
at 1.8338%, 10-Yr down 1.1bps at 2.0545%, and 30-Yr down 1bps at 2.5812%.
- Eurodollar futures pretty flat; saw upside EDQ 81 call buying earlier (44+k).
- Some more data for the Fed to consider: Personal income (0830ET) est risen by
0.4% in June, with Core PCE prices up 0.2% / 1.7% M/M. Annual revisions as well.
- Conf Board cons confidence also eyed (1000ET: 121.5 prior, 125.0 est.)

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