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Treasuries have picked up...........>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries have picked up Thursday where they left off
post-FOMC Wednesday, posting further gains and curve flattening.
- Jun 19 T-Note futures up 5/32 at 123-18, having traded as high as 123-20.
- Belly outperforming on the curve. The 2-Yr yield is down 0.8bps at 2.3877%,
5-Yr is down 1.5bps at 2.3126%, 10-Yr is down 1.4bps at 2.512%, and 30-Yr is
down 0.7bps at 2.9643%.
- Cash Tsy trading got underway only when Europe came in, as Japanese markets
closed for a national holiday.
- Curve keeps flattening post-dovish FOMC; notably 3M/10Y gapped lower, last
trading at 5.0bps, new cycle low and 10bps down from Wed's open.
- No Fed speakers until Monday.
- Data highlights today include Philly Fed and weekly US jobless data
(0830ET/1230GMT).

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