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- US TSYs have been well bid this......>

BOND SUMMARY: - US TSYs have been well bid this morning with yields pushing
lower across the curve. The long-end has outperformed slightly and caused the
curve to flatten. The 10-year yield trades at 2.645% from a high of 2.678% while
2s10s has traded down to 15.7bps from 17.4bps.
- The Mar 19 JGB future trades at 152.72 near the top of the day's range.
- The short-end of the German bund curve has lacked direction, while the
longer-end has rallied. The 10-year has outperformed the curve the yield down
1.2bp on the day.
- The French OAT curve has steepened slightly with the 2s30s spread widening to
209.8bps from 207.9bps.
- Trading in Italian BTPs has been fairly erratic albeit with yields broadly
drifting higher. The 3-year has been the biggest mover of the day with the yield
trading at 1.156% up from a low of 1.085%.
- The long-end of the gilt curve has rallied with 2s10s and 2s30s 2-3bps
- Euro$ futures are down 0.5-2.0 ticks with reds underperforming. 

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