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Treasuries have come well off.......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries have come well off best levels in European trade,
mirroring stock futures bouncing from the lows. No real catalyst for the
retracement: risk-off has prevailed on 2nd COVID wave concerns.
- Curve also off flattest levels, but bull flattening still on. The 2-Yr yield
is down 1.2bps at 0.181%, 5-Yr is down 1.6bps at 0.312%, 10-Yr is down 3.4bps at
0.669%, and 30-Yr is down 4.6bps at 1.4105%.
- Sep 10-Yr futures (TY) up 6.5/32 at 138-30 (L: 138-23.5 / H: 139-03), just
under 300k contracts traded as of 0640ET.
- S&P Eminis are off 1.9%, but +1.5% from low; USD little changed.
- Fed speakers today: Dallas' Kaplan at 1000ET; SF's Daly at 1230ET.
- Thin data calendar with just Jun Empire Manuf out at 0830ET; attention is on
Tuesday's Retail Sales release for May.
- Just 3- 6-month bill on the supply docket today ($114bln total). NYFed buying
just over $4bln in Tsys/TIPS.

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