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US Treasuries are trading higher....>

US TSYS SUMMARY: US Treasuries are trading higher with the 7-10-yr sector
leading the charge following a continuation of yesterday's unwind of risk-on
sentiment. Japanese stocks falling 1% and subsequent fall in Dollar/Yen also
supported bid in US Treasuries.
- Prices are off best levels however, taking cue from fall in UK Gilts following
higher than expected rise in Jan core inflation data.
- US Tsy 10-yr yield is 2.72bp lower at 2.8312% while 2-yr are 1bp lower and
30-yr 2.8bp lower.
- 30-yr swap spreads have fallen by 1bp to trade at -17.75bps paring some of the
1.75bp rise seen on Monday. While breakevens are little changed.
- Little data from the US this afternoon so attention likely to be on comments
from Fed's Mester at 0800ET

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