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US TSYS

Off Asia Cheaps

JGBS AUCTION

PREVIEW: 2-Year JGB Supply Due

JGBS

Curve Twist Steepens, Futures Narrow

US EURODLR FUTURES

EDU2/Z2/H3 Fly Given

Tsys are trading a little...........>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys are trading a little stronger though off highs Thursday.
- After directionless trading early, T-Note futures came to life after 0300EST,
pushing 10 ticks higher as Brexit headlines took some risk off.
- The Dec 18 T-Note future is up 4/32 at 118-28, having traded in a range of
118-195 to 119-005.
- Belly outperforming on Tsy curve. 2-Yr yield down 1.9bps at 2.8477%, 5-Yr down
2.4bps at 2.9328%, 10-Yr down 2bps at 3.1049%, and 30-Yr down 1.6bps at 3.3509%.
- Eurodollar futures a little higher, up 1.5-2.0 ticks from Jun20-beyond.
- Fed's Bostic, Quarles & Kashkari are all due to speak later, while U.S. retail
sales headlines the economic docket.
- Last night in Dallas Fed Chair Powell revealed little in the way of fresh
information, stressing the need for the Fed's gradual approach, while noting
that all meetings are live.
- Powell addressed widely discussed risks and tailwinds, noting that he is very
happy with how the U.S. economy is reacting to policy, stating that the balance
sheet run off is going very well, and that the Fed watches data closely.