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EQUITIES

A gap lower for Stoxx600 on the cash open

SPAIN DATA

Spanish GDP Rose in Q2

GILTS

Opening calls

NOK

Trades in  the red against all majors

Tsy futures trading mildly lower,......>

US TSY FLOWS
US TSY FLOWS: Tsy futures trading mildly lower, low end narrow overnight range
on modest volume following BoE unchanged policy annc. Mkt discounting latest N
Korea threats. Equities weaker (emini -1.5, 2493.25), gold weaker (-2.42,
1320.72), oil little firmer (WTI +0.50, 49.80).
- Asia, geopolitical tensions on simmer after N Korea said it would sink Japan
and reduce US to ashes. China eco-data show slowing expansion retail sales,
invest spending, ind production. Modest two-way flow, sideways trade through
Asia hours w/better bid, light deal-tied hedging.
- London, dip buying in German Bunds while Tsys saw some buying as 10Y neared
2.20%. Early selling 2s and 10s, bank portfolio selling in the belly. Tsys
extended session lows following BoE annc. Large TYZ Block sale -11,833 at
126-13.
- Overnight repo, 3s, 7s and 10s remain tight
- Swaps, mildly wider, light deal-tied paying, overnight repo specials adding to
move.
- Eurodollars trading mildly lower, earlier buy 10k Mar'18/Jun'18, 0.060
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com