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Tsys finished off of early session.....>

US TSY/RECAP
US TSY/RECAP: Tsys finished off of early session lows, with the curve sitting a
touch steeper as the short end outperformed.
- It was a quiet session ahead of a central bank/data heavy week.
- The U.S. Tsy indicated a higher Q3 borrowing requirement than had been
estimated previously ($329bn vs. $273bn initial estimate).
- Light two-way flow was observed on net, with early sales unwound into midday,
little/no deal-tied flow & little substantive data to cover.
- Modest option volume was observed, light hedging (TYU well under 875K by the
bell) in typical light summer volume.
- The BOJ MonPol decision, U.S. PCE data, EZ CPI & China official PMIs provide
notable risk events today.
- T-Notes last at 119.12, U.S. 10-Year cash Tsy yields closed at 2.973%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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