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Treasury weakness - characterized...>

US TSYS SUMMARY
US TSYS SUMMARY: Treasury weakness - characterized by bear steepening - has
accelerated over the European morning as global equities keep on marching.
- 30s underperforming on the curve, with 2s30s and 5s30s all pushing toward
March highs. The 2-Yr yield is up 0.2bps at 0.1584%, 5-Yr is up 0.5bps at 0.31%,
10-Yr is up 1.5bps at 0.6738%, and 30-Yr is up 2.6bps at 1.4766%.
- Sep 10-Yr futures (TY) down 4/32 at 138-28.5 (L: 138-27 / H: 139-03.5), though
volumes light so far (~185k as of 0630ET).
- Dollar weakness also pronounced, broad index off 0.4%.
- Issuance schedule today is limited to 42- and 119-day cash management bill
auctions for total $105bln. NY Fed buys $3bln combined in Tsys and TIPS.
- No data or speakers on the agenda today.

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