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Tsys trading weaker, near middle of....>

US TSY FLOWS
US TSY FLOWS: Tsys trading weaker, near middle of lower range. Risk on tone
following Trump/Xi dinner and a tweet (US handshake agreement to delay slapping
China w/tariff increase for 90 days; equities surged, autos benefit after Trump
tweeted China will reduce/remove US auto tariffs). Party on Xi...Party on
Donald!
- Tsys bear flattening (5s30s -2.309, 45.277), decent futures volume (TYH
>425k). Flow includes various buyers into weakness: CB +5s, bank portfolio +10s,
props two-way in long end. Decent front end Eurodollar selling after 1- and 3M
LIBOR sets (1M +0.0320 to 2.3789%; 3M +0.0152 to 2.7513%).
- Note, Fed Chair Powell is scheduled to testify on US economic outlook before
Congress's Joint Economic Committee Wed (text 0815ET, actual testimony at
1015ET). Testimony may be canceled, however, due to national day of mourning to
honor former Pres George H.W. Bush who passed away Fri, November 30. 
- Tsy cash/ylds: 2Y 99-26.5 (2.839%), 5Y 100-00 (2.873%), 10Y 100-23 (3.039%),
30Y 100-26.5 (3.330%).

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