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US Tsy futures trade lower, desks could.....>

US TSYS
US TSYS: US Tsy futures trade lower, desks could be a little thinner than usual
on Monday as cash Tsy markets are closed with the US set to observe the Memorial
Day holiday.
- The June 12 US-North Korea summit seems a more likely proposition than it did
48 hours ago, with Trump a little more upbeat on the matter in comments made
over the weekend. Elsewhere the Italian President blocked the formation of the
M5S/League government as he vetoed their EconMin nomination, Savona, owing to
his anti-EUR stance. This will likely send Italy back to the polling booths.
- T-Notes remain well shy of Friday's closing levels. Eurodollars are also lower
with the white & red contracts 1.5-3.5 ticks softer.
- Looking forwards, Wednesday brings the second Q1 US GDP estimate, Thursday
heralds the release of April's PCE data, while Friday brings the release of the
latest US labour market report. On the Fedspeak front this week brings comments
from Fed Gov. Brainard, voter Bostic & non-voter Bullard.
- T-Notes last at 119.24, US 10-Year yields closed at 2.931%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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