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Tsys weaker/off lows post ADP........>

US TSY FUTURES
US TSY FUTURES: Tsys weaker/off lows post ADP. Rates reversing appr two-thirds
of Tue's risk-off/safe-haven rally as Italy remains in focus. Not an all-clear
for political uncertainty that rocked mkts yesterday, but decent Italian
BTP/CCTEU auction performance (and higher flash inflation data from German
regions and Spain) helping narrow peripheral spds (Italy 10Y vs. Bunds -39.6,
Spain -15.8. Portugal -18.6, Greece -30.2). Tsy Yld curves mixed, update:
* 2s10s +0.835, 46.619 (48.546H/43.471L);
* 2s30s -0.076, 65.069 (67.098H/61.057L);
* 5s30s -1.970, 36.986 (40.447H/33.731L);
Current futures levels:
* Jun Ultra bonds down 2-3/32 at 158-19 (158-04L/161-02H)
* Jun 30-yr Bond futures down 1-8/32 at 145-00 (144-17L/146-23H)
* Jun 10-yr futures down 21.5/32 at 120-18 (120-08.5L/121-12.5H)
* Jun 5-yr futures down 13.5/32 at 114-05 (113-31L/114-22.25H)
* Jun 2-yr futures down 3.5/32 at 106-10.25 (106-07.5L/106-16H)

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