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US Treasuries are trading...........>

US TSYS SUMMARY
US TSYS SUMMARY: US Treasuries are trading modestly higher, but off session
highs, as better expectations component of German IFO dampens some of the
risk-off sentiment seen during Asia. 10-yr Tsy T-note yield is 2.0bp lower at
2.875% vs intra-day low of 2.864% while the belly of the yield curve is
currently outperforming the wings with 5s/30s spread 0.6bp steeper.
- US Tsys squeezed higher during Asia session supported by newswire report that
US administration has decided to restrict China's ability to invest in or
acquire US companies in the industries identified by Beijing in its so-called
Made in China 2025 plan.
- Tsys initially rose to fresh highs as European session got underway but
quickly faded gains as German IFO expectations remained steady at 98.6 versus
forecasts for a small drop. Prices remain underpinned but global trade risks
though and have traded in tight range.
- Eurodollar strip is steady to 3.5 ticks higher led by moves in green and blue
contracts. While both swap spreads and breakevens are a touch tighter

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