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*** Treasuries hold just below session......>

US TSYS
US TSYS: *** Treasuries hold just below session high prices after FX-tied buying
as US$ recedes vs. yen, and US stocks index futures traded weaker. Some said
asset allocation buying in Tsys occurred as various accounts exited stocks/buy
Tsys after last night's Trump talk of forcing a govt shutdown if needed to get a
US/Mex. wall, and that US could leave NAFTA; but recall this could all be just
saber-rattling by Trump to get some action out of Congress. Meanwhile risk-off
mood fueled by Spain news that terrorists in recent Barcelona attack used a
foreclosed home to store their explosives.
- High-grade US dollar corporate bond issuance only has muted issuance so far;
that could be Tsys-supportive as less need to hedge against corporate issuance.

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