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US bonds and rates continue to......>

US TSYS SUMMARY
US TSYS SUMMARY: US bonds and rates continue to look weak Tuesday, ahead of the
beginning of the FOMC's two-day meeting and amid a global downturn in bonds. 
- The Dec 18 T-Note future is down 7.5/32 at 118-125, at the bottom of today's
range of 118-125 to 118-180.
- The curve has bear steepened, with the 2-Yr yield up 1.8bps at 2.835%, 5-Yr up
1.7bps at 2.9849%, 10-Yr up 1.9bps at 3.1076%, and 30-Yr up 2bps at 3.2453%.
- 10Y yield remains near highest since mid-May (3.1261% the level to watch).
- Eurodollar futures  remain weak, with contracts between Dec19-Sep22 down
3.0-3.5 ticks. Longer-dated contracts (i.e. EDZ1 / EDZ2) at fresh 5-month lows.
- $35B 5Y note auction up today.
- Key US data today includes the Conference Board consumer confidence index
(1000EST) which is expected to fall back to a reading of 131.7 in September
after surging further in August. 

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