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*** Treasuries drifed off early........>

US TSY FLOWS
US TSY FLOWS: *** Treasuries drifed off early highs as EGBs (Gilts, Bunds) saw
some profit-taking at day's highs, and as NY Fed Dudley sounded "hawkish, for
him". Also corporate rate lock hedges pressured Tsys. 
- Also Tsys pressured too by black box sales as the US$ firmed and Japanese yen
faded after yen strength overnight, said traders. 
- Tsys also had buying in very early NY in cash intermediates, and them mild
two-way flows, with also some selling in the back end futures, such as Ultra
Bonds and Classic 30Y bonds. Some foreign central bank buying also arose in Tsys
too.

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