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US Tsys finished lower on Friday,......>

US TSY/RECAP
US TSY/RECAP: US Tsys finished lower on Friday, tracking EGBs, as the USD
rebounded.
- It was a quiet session overall, with little reaction in the wake of
second/third-tier data.
- Position squaring was noted, with profit taking on curve flatteners apparent
ahead of FOMC on 21 March.
- Swap spreads closed at/near session wides, with the spread curve flattening.
- In terms of flow, better front-end paying in 2s and 5s was noted late on.
- BMO expect that the LIBOR-OIS spread will keep rising amid quarter-end funding
pressure & increases in the US Treasury's cash balance.
- T-Notes last 120.09+, US 10-Year yield last 2.844%.
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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