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Tsys settle into higher range.......>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys settle into higher range ahead next wk's policy annc from
Fed, BoE, BoJ; July NFP next Fri. Futures gain upward momentum in second half as
US$ trades lower w/equities caving (program sales, -975 names/ tech heavy) along
w/crude, potential month end cross asset flow here. Note, VIX rallies but off
session highs (+1.55, 13.69, 14.26H).
- Ylds fell after Q2 adv GDP gained +4.1% -- but +4.4% (est) or higher expected
after Pres. Trump telegraphed since Sunday. GSP up from an upward revised +2.2%
(prev +2.0%) in Q1, as the GDP price index +3.0% vs +2.1% expected and +2.0% in
Q1.
-  US$ index reversed direction, DXY -.138 to 94.647; US$/Yen weaker, -.38 to
110.85 (111.25H/110.80L); equities sliding (emini -30.0, 2812.75); gold rebounds
(XAU +2.90, 1225.54); West Texas crude slides (WTI -1.13, 68.48).
- Decent first half trade, short cover/outright buying post data, two-way curve
flow, rather decent swap-tied flow w/spds forging wider amid heavier rate paying
in front end, heavier upside option trade. Tsy cash/ylds: 2Y 99-29 (2.669%), 5Y
99-18.25 (2.841%), 10Y 99-10 (2.954%), 30Y 100-26 (3.082%).

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