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Tsys back under moderate sell..........>

US TSY FLOWS
US TSY FLOWS: Tsys back under moderate sell pressure post-data, decent futures
volume (TYM near 600k), ylds again following China and Bund gilts higher, latter
underperforming Tsys, 10YY back to mid-March levels.
- Overnight flow included better buying in wings from various accts, selling in
5s-10s, swap-tied selling in short end; large sale >30,000 Apr FF at 97.587,
-40k EDM9 blocked at 97.405. Decent corporate-tied hedging again as financials
exit earnings blackout.
- The 2-Yr yield is up 0.6bps at 2.4188%, 5-Yr is up 1.4bps at 2.4196%, 10-Yr is
up 1.4bps at 2.6048%, and 30-Yr is up 1.2bps at 3.0039%.

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