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Treasuries prices ended choppy......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries prices ended choppy Thu lower after so-so moderate
$28B 7Y auction, and ECB meeting news that Jan-Sept 2018 ECB bond-buys will be
halved to E30B/mo pace (vs. E60B now.) 
- Traders cited 1:31pm ET block sale of 10,000 TYZ 10Y futrs pressuring Tsys
lower. Bloomberg story hinting at shorter ECB taper in 2018 hurt mkt, as did
technical TSys weakness and pressure from firmer US$. Some afternoon
post-auction sales of 7Y notes pressured Tsys. 
- Tsys rose early after initial jump on ECB news, but then zigzagged up and down
in morning two-way flows. Mkt finally bottomed out after large 27,500 Eurodollar
Red Pack futures block buy (see 11:40 a.m. ET bullet; moved risk from futures to
swaps. Tsys saw 2/7Y, 2/10Y flatteners.
 - Politico: Hse approved US Senate-passed fiscal 2018 budget, which cld mean
movement to tax reform; House vote will let Senate move forward on tax reform
bill, with a simple maj vote, rather than a 60-member threshold." 
- TSYS 3PM ET: 2Y 1.619%, 3Y 1.750%, 5Y 2.071%, 7Y 2.292%, 10Y 2.452% and 30Y
2.959

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