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Treasuries sliding, 10Y note is at.......>

US TSYS/2Y
US TSYS/2Y: Treasuries sliding, 10Y note is at 2.236%, with pre-auction
selling/shorts into the 1pm ET 2Y note auction. Tsys also hurt amid black-box
selling as the US dollar firms up vs. yen, and other markets too reflect a
reversal of Monday's N.Korea-tied safe-haven trade. "We had gone up strictly on
the fear trade Monday," said one veteran trader. "Also the dollar has bounced,
so we have the reversal of Monday's safe-haven trade."
- Plus he added, "We got Yellen before the auction" as she speaks 12:45pm ET
before 1pm 2Y auction "so we will see" how things spin out. "You also had NY Fed
Dudley on Monday looking past the recent drop in inflation. And, the NY Fed
released a new inflation gauge that is running much higher than CPI or PPI. That
may be informing their policy decisions," he said.

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