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***Treasuries had whipsaw day so far:.......>

US TSYS
US TSYS: ***Treasuries had whipsaw day so far: Initial rally on soft Aug. jobs
report on short-covering and outright buying in Tsys, then brief light
profit-taking at the highs. Then brisk selling as BBG ECB story said ECB won't
have its bond-buying taper plan ready until Dec. ECB meeting, which is arguably
risk-friendly news, so Tsys hurt as US stocks and European stocks gain in
risk-on mood.  Tsys then slid lower still on strong 58.8 ISM Purchasing Managers
Index with more selling. 
- Tsys futures had an 8:31am ET block sale of 6,700 TYZ at 127-04, through a
-04.5 bid at post time; Tsys 10Y futures had about 105K TYZ bought from
8:30am-8:30am ET with VWAP at 127-05.5. 
- Cash Tsys 5/30Y curve saw two-way flows, most recently profit-taking on the
earlier steepeners. - Eurodlr futures had a sale of 20,000 Dec'17 at 98.575 to
-0.57, partially tied to Sep/Dec buy at 0.100. 
- US$ high grade corporate bond issuance is quiet today; but syndicates are
working hard to ready on a flood on new issuance for September.

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