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Treasuries prices ended choppy.........>

US TSY/RECAP
US TSY/RECAP: Treasuries prices ended choppy Thursday, lower after so-so
moderate $28B 7Y auction and ECB meeting news that Jan-Sept 2018 ECB bond-buys
will be halved to E30B/mo pace (vs. E60B now.) 
- Traders cited 1:31pm ET block sale of 10,000 TYZ 10Y futures pressuring Tsys
lower. Bloomberg story hinting at shorter ECB taper in 2018 hurt mkt, as did
technical Tsys weakness and pressure from firmer US$. 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: "House approved US Senate-passed fiscal 2018 budget, which could
mean movement to tax reform; House vote will let Senate move forward on tax
reform bill, with a simple majority vote, rather than a 60-member threshold." 
- T-Notes last at 124-11, 10-Year yield last at 2.461

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