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Treasuries this morning had some........>

US TSYS/30Y
US TSYS/30Y: Treasuries this morning had some muted FX-tied action: earlier
FX-tied sales as US dollar firmed up vs. yen, and then later FX-tied bid as US$
receded. "This has been more of a dollar trade," said one trader at a primary
dealers. 
- There also was some curve steepening action into the 1pm ET US$15B 30Y bond
auction (new.) But traders suggested market players are fearful of being short
Tsys as the market "has been squeezed so consistently this week, so I don't
think anyone wants to be short," as one trader said. 
- Meanwhile the US$ high-grade corporate bond secondary market is mildly weaker;
but junk bonds are much weaker on the day; CDX high yield index is wider by 4.65
bps to 326.89 bps; communications bonds averaged a widening of 12 bps on the day
in secondary market.

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