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Tsys slipped to new session lows by....>

US TSY/RECAP
US TSY/RECAP: Tsys slipped to new session lows by the closing bell after
chopping around narrow/higher range. 
- While Tue's focus on strong US$ & Tsy ylds to multi-yr highs, Wed focus on
Italy amid coalition govy headlines: admission Italian debt forgiveness to EU
NOT part of program corresponded w/Tsys trading lower by late morning.
Correlation w/US$ less a factor today, while anything calming re: Italy (ergo
allaying demise of EU) deemed as risk on. 
- Muted reaction to data (Apr housing starts -3.7% to 1.287m; IP +0.7%; CapU
+0.4 to 78.0%).
- Eurodollar futures mixed, short end weaker as 3M LIBOR set +0.0050 to 2.3256%,
still -0.0169/wk. 
- Tsy ylds: 2Y 2.585%, 3Y 2.762%, 5Y 2.939%, 7Y 3.061%, 10Y 3.096%, 30Y 3.217%

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