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Tsys finished weaker on Tuesday,.......>

US TSY/RECAP
US TSY/RECAP: Tsys finished weaker on Tuesday, going out at/near the late
session lows.
- A positive session for equities, aided by a WSJ article noting that China is
looking to moderate trade threats and "soothe relations with U.S.
multinationals," weighed on Tsys
- The latest 3-Year note auction drew a 0.1bp tail, as the cover ratio held
steady around the 6 auction average, with the takedown %'s among different types
of investors broadly stable and in line with the recent averages.
- The belly of the curve experienced some modest underperformance in cash trade.
- Flow included fast- and real-money a/c buyers on lows in 5s, 10s & 30s, in
addition to curve steepeners via options & futures (2s10s).
- The Eurodollar strip also went out near lows.
- Fed's Brainard & Bullard are due to speak on Wednesday, with the release of
the latest Beige book also scheduled.
- T-Notes last 119.11, U.S. 10-Year cash Tsy yields closed at 2.975%.
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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