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Tsy trading moderately lower on.....>

US TSYS SUMMARY
US TSYS SUMMARY: Tsy trading moderately lower on strong volume (TYU 1.3M),
curves bear steepening throughout the day but have since dipped off session
highs. Tsy ylds higher with 10YY breaching 3% for first time since mid June,
currently (3.001%) 98-29.5 vs. (3.014%) day high, 30YY 3.126%; US$/Yen fell back
in line with the 10YY; decent amount of data today as ADP came in stronger than
expected (219k vs 186k exp); ISM manufacturing and construction spending both
came in much weaker than expected, (58.1 vs 59.4 exp) and (-1.1% vs +0.3% exp);
Tsy supply increased , mild deal-tied flow in the mix, FX acct selling; dealer
sales cash 10s and 30s
-FOMC held the fed funds rate steady at 1.75% to 2.00% on an 8-0 vote; very few
changes to the overall statement
-DXY +.055 to 94.609; US$/Yen softer, -.31 to 111.55 (112.15H/111.39L); equities
lower (emini -3.50, 2813.5); gold softer (XAU -5.72, 1218.53); West Texas crude
lower (WTI -0.97, 67.79).
-Tsy cash/ylds: 2Y 99-28.5 (2.678%), 5Y 99-13.75 (2.872%), 10Y 98-30 (2.999%),
30Y 100-00 (3.124%).

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