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Tsys have edged lower after it became.......>

US TSYS: Tsys have edged lower after it became apparent that the 2 Koreas will
hold a summit on September 18-20, with the 2 nations set to discuss practical
measures for denuclearisation of the Korean peninsula. The reports also noted
that North Korean leader Kim stated that the country's nuclear testing programme
cannot be restarted after the dismantling of the test site. 
- Wednesday heralded some modest curve steepening aided by a blocked steepener
in FVZ/WNZ (duration neutral) and outright buying of 13.8K FVZ, decent deal-tied
hedging was also noted amid heavy corporate supply, with participants on the
lookout for Cigna's multi tranche deal, which could exceed $20bn in size.
- The Eurodollar strip has traded in a limited fashion overnight.
- ADP employment data is due on Thursday, ahead of Friday's labour market
report, with the PMI/ISM services surveys also on the docket, in addition to
durable goods and factory orders data. Fed's Williams is also due up on
Thursday, with participants also on the lookout for any U.S.-China trade
rhetoric ahead of the upcoming imposition of addition U.S. tariffs on China.
- T-Notes last 119.30, U.S. 10-Year cash Tsy yields last at 2.906%.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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