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Treasuries are weaker this..........>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries are weaker this morning, mainly reacting to
under-siege German curve and UK curves. In turn, both of these markets are
responding to talk that a Brexit divorce fee has been agreed. With this out of
the way, the higher probability of a soft Brexit should protect growth levels in
both zones.
- Earlier, there had been a small bid to USTs that developed after the North
Korean missile test but the impact faded quickly. 
- The 10Y UST yield is 1.1bp higher at 2.338% accompanying a 0.6bp steepening of
the yield curve.
- Reported flows included dealers and CTAs buying the front end of the curve in
US trading, mutual funds ion the middle of the curve and pension funds in the
long end; everybody neatly keeping to their preferred habitats.
- Today, politics remain front and centre in the US markets, especially now that
the tax reform made it through the Senate Committee. Also, the threat of a
government shutdown as Democrats skipped a meeting with Trump on the matter
yesterday in the US afternoon.

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