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Tsys were bid across board after the...>

US TSY FLOWS
US TSY FLOWS: Tsys were bid across board after the close but well off midday
highs, largely erasing Wed's retreat as risk appetite evaporated. Pretty much
the story of the day: risk appetite muted but little follow through in trade.
- No immediate react, apparently ignoring better than exp retail sales, Philly
Fed and continuing claims, while "margin for error not enough to matter" one
desk commented, others more focused on US/China geopol risk and virus related
headlines. 
On the equity open, mkts see-sawed as sources reported "some rotation underway
in stocks, out of growth/momentum and into value and smaller cap and short
covering in financials and energy". Sources note selling in long end ahead 20yr
announcement.
- Various Fed speakers on day didn't break new ground but Bostic wanted to get
across that negative rates are not an option. 
- The 2-Yr yield is down 0.8bps at 0.147%, 5-Yr is down 1bps at 0.2786%, 10-Yr
is down 1.2bps at 0.6184%, and 30-Yr is down 2.1bps at 1.3115%.

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