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US Treasuries rose Friday on...........>

US TSY/RECAP
US TSY/RECAP: US Treasuries rose Friday on speculation that US Pres. Trump would
choose Jerome Powell as his Fed Chair who the market view as relatively dovish
in comparison to the other front-runner, Stanford Univ's John Taylor. Trump will
announce his choice before the Nov. 3rd start of his Asian trip. Such
speculation overcame earlier bond weakness amid firmer 3% 3Q GDP and, and 2.2%
GDP price index, 1.3% Core PCE Price Index, traders said. 
- Tsy futures had heavy sales in TYZ 10Ys from 124-11.5 down to 124-09. Buyers
then stepped in at the lows after softer 100.7 Oct. BBG/Univ of Mich consumer
sentiment. Prop and fast$ bought intermediates; real$ bought 10Y as bounce
gained traction. More buying on softer US$ vs. Yen. Asian buying also came into
Tsys. 
- Other factors supporting rates: news that Catalonia officially declared
independence from Spain, said traders. Tsy futures also saw heavy buying in TYZ
from 124-16 to 124-19. - Tsys pared gains in afternoon, with, position square
into weekend; next week FOMC.
- T-Notes last at 124-24, 10-Year yield last at 2.408.
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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