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Treasuries open NY weaker after.....>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries open NY weaker after Wed overnight followed Tues
technical slide. Tsy has 11:30am ET $15B 2Y FRN auction, 1pm US$34B 5Y auction. 
- TOKYO: Tsys narrow range after mildly weaker open, carryover weakness amid
speculation John Taylor lead candidate for Fed Chair (after Trump GOP straw poll
Tues suggested that.) Asian banks bought cash 5Y notes. 
- LONDON: Tsys declined, tracking Bunds down amid German 10Y auction, firmer
German Ifo data; weaker UK Gilts after UK GDP data. Credit-tied sales hurt cash
5s and 10s. Macro funds sold 10Y notes. Sell-stops hit as 10-yr note has broken
over 2.40%, 2.42% and briefly 2.44%; 2.454% at 5:46am ET session high yld.Fast$
meanwhile did two-way in cash 5s. 
- Fed Chr Yellen has "unlikely advocate": Pres. Trump, said BBG, citing sources
saying she wanted to keep job, set no 2nd term precondition, suggested good
VChrs to Trump. 
- US SWAPS: Tighter; supply weighed; real$ receiving. 
- OVERNIGHT REPO: Tsy 2Y, 5Y notes tight; also old 2Y, old 3Y bid. 
- US CORPORATES: Korea Hsg Fin 5Y, Sweden 3Y,BNG 2Y; China US$ bond seen Thurs.

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