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Tsys end a wild Fri higher as..........>

US TSY/RECAP
US TSY/RECAP: Tsys end a wild Fri higher as ex-Trump NSA Advisor Flynn pled
guilty to lying to federal agents, will cooperate with Spec Counmsel Mueller;
Flynn said wld testify vs US Pres. Trump. WH said Flynn plea only pertains to
Flynn. Tsys thus had safe-haven rally on Flynn news, after Tsys declined earlier
on view the US tax plan can pass in Senate. 
- Massive risk-off sales in US Stocks on Flynn news, gold surged, US$ had
fallen. Tsys heavy buying, stops hit on way up, curve flatteners/ steepener
unwinds, large Block buying in 10s. Block sales as Tsys trimmed gains, very
choppy trade on heavy volume (TYH>2.75M). Heavy Block sale -28.5k FVH early,
cash sales 2s and 3s, multiple flatteners. Tsys scale back gains early in second
half as focus turned back to Tax vote.
- Senate passed the tax bill over the weekend, 51-49. The bill as it stands now
would decrease the US corporate tax rate to 20% from the current 35% but the
just-passed Senate bill will have to be reconciled in conference with a prior
House-passed version. T-Notes open Asia lower on tax bill news, last down 11
ticks at 124.02+, 10-Year yield last up 4.1bp at 2.403%.

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