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Tsy futures are trading weaker again...>

US TSY FLOWS
US TSY FLOWS: Tsy futures are trading weaker again after Brexit extension to Jun
30 vote passes Tsys still off midday lows. GBP had blipped higher briefly but
extended lower (GBP -.0113, 1.3225); US$ index chopped near top end of range
(DXY +.237, 96.787). US equities off lows late (SPX -4.25, 2815.25). Generally
quiet ahead next weeks FOMC, political/trade/Brexit headline watching continued.
- Midday rout in long end Tsys -- no Blocks, but bids are absent as long end
extended session lows; Yld curves gapped steeper, new 1+ year high for 5s30s
+3.130, 61.511 (58.069L/61.791H). Bunds surged higher as well but desks noted
dearth of catalysts for move.
- Weak-longs unwound/tight stops triggered in 30s on midday move, fast$, prop
accts 2-way, real$, insurance portfolio selling 30s, two-way swap-tied flow.
- On tap for Friday: March Empire Manufacturing Index; February industrial
production and capacity utilization; March Michigan sentiment index; JOLTS job
openings level and quits rate.
- Tsy cash/ylds: 2Y 100-02.5 (2.453%), 5Y 99-25.75 (2.415%), 10Y 100-04
(2.609%), 30Y 99-27 (3.007%).

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