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Tsys trading weaker, low end late...>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys trading weaker, low end late overnight range on decent
volume (TYM>330k), risk-on tone with equities surging (emini +32.25, 2630.0),
US$ gaining vs. Yen (105.11) amid headlines China looking to avert trade
war/speed up negotiations w/US, S Korea also revising trade deal on steel. Gold
trading firmer (XAU +1.65, 1348.90); West Texas crude weaker (WTI -0.13, 65.75).
- Asia, Tsys opened steady to Fri's closing levels, drifted lower into London
crossover, FX-acct sellers in belly, bank portfolio and real$ selling long end.
- London, carry-over sell interest in long end from real$, to-way curve flows,
bank selling 10s.
- Swaps, spds running mostly wider, 2Y tighter ahead today's $30B 2Y note
auction. Some recent flow includes receiving in 2s, paying in 3s on moderate
size. Earlier, sources noted bank receiving 7s, real$ receiving 5s30s, macro fun
paying 10/30.
- Eurodollar futures, trading weaker across the strip, at/near overnight lows on
modest volume. LIBOR continues higher but pace slows on shortened holiday week,
3M +0.0034 to 2.2949% (+0.0898 last wk).

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