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Treasuries have drifted higher......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries have drifted higher early Weds on decent volumes
that are basically in line with recent (non-holiday) averages. Lots of Fed
communications today, including five Fed presidents and Jan FOMC minutes.
- Asia-Pac trading saw early weakness in Tsys on news of moderation in
Coronavirus infections in China, though offset by growing concerns in S Korea.
- Have been modestly bid ever since London trading though - just off day's highs
now: 10-Yr futs (TY) steady at at 131-06.5 (L: 131-01 / H: 131-08).
- Curve flatter: 2-Yr yield is up 0bps at 1.4117%, 5-Yr is down 0.5bps at
1.393%, 10-Yr is down 1bps at 1.5508%, and 30-Yr is down 1.7bps at 1.9937%.
- Jan housing starts at 0830ET, alongside PPI.
- FOMC minutes at 1400ET. Most attention on discussion on balance sheet outlook
including bill purchase tapering and repo. Coronavirus impact too.
- Loads of Fed speakers todayas well: Atlanta's Bostic (0810ET), Cleveland's
Mester (0830ET), Minn's Kashkari (1145ET), Dallas' Kaplan (1330ET - check out
our exclusive interview with him yesterday if you haven't read it already), and
Richmond's Barkin (1630ET). 

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