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Tsys trading mildly higher after the...>

US TSY FLOWS
US TSY FLOWS: Tsys trading mildly higher after the bell, off highs after long
end caught up with intermediates earlier. Yield curves steeper but off highs
(2s10s +11 since Nov 9 lows (44.0L, 55.30H); 5s30s +13 since Nov 9 lows (32.7L,
46.40H)).
- Quiet rebound after a weaker open, initially triggered after US$/Yen dropped
to new session lows (112.43). Also underpinning rates, equities extended an
early sell-off (SPX down to 2681.5L), partially due to weak tech shares, with
index paring losses on late profit taking.
- Limited data to react to (NAHB housing mkt index dropped 8 points to 60), many
liquidity providers plying sidelines ahead Thu's Thanksgiving holiday closure,
early close Fri. 
- Mild deal- and option tied hedging. FVZ Block buy-through (112-26, buy-through
-25.75 post-time offer) helped get rebound rolling in first half, +7.2k TUU
105-16.7 lifted offer. 2s10s steepeners/flattener unwinds, prop and real$ buying
5s and 10s in second half. Tsy cash/ylds: 2Y 100-05.5 (2.781%), 5Y 100-01.5
(2.863%), 10Y 100-18.5 (3.056%), 30Y 101-03.5 (3.315%).

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