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Tsys ignoring weaker EGBs ahead.....>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys ignoring weaker EGBs ahead of the ECB annc (ending QE?),
ylds directional w/lower US$/Yen at the moment after pair gapped to 110.85 post
FOMC Wed. Futures broadly higher, long end outperforming on decent volume
(TYU>355k). USD index lower (DXY -.224, 93.320; US$/Yen -0.35, 110.00 vs.
110.85H); stocks firmer (emini +1.75, 2780.75); gold firmer (XAU +6.36, 1305.69;
West Texas crude firmer (WTI +0.32 to 66.96).
- Asia, Tsys resumed trade w/bid, recovering from post FOMC sell-off, hawkish
hike (and 4 dots, IOER to 1.95%) tempered by dovish sounding presser from Fed
chair. Tsy ground higher as US$ receded vs. Yen, fast and real$ +3s and 5s,
props +10s and 30s w/real$ buying long end pre/post London open. Fast$ selling
long end late.
- Swaps, spds running wider to steady out the curve. Better paying in 1s-2s, spd
curve steepeners (2s5s, 5s and 10s vs. 30s).
- Eurodollar futures, mildly higher across strip, Jun'18 futures expire early
Mon. Tsy cash/ylds: 2Y 99-28.25 (2.557%), 5Y 99-21.75 (2.818%), 10Y 99-11
(2.950%), 30Y 101-05.5 (3.063%)

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