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US Tsys have traded on the front foot.......>

US TSYS
US TSYS: US Tsys have traded on the front foot amid risk-off flows as US
President Trump ordered the US Trade Rep to identify an additional $200bln in
Chinese goods for tariffs at a rate of 10%, this is a larger nominal amount than
had been expected.
- These comments had T-Notes (TYU8) testing Friday's high of 129.27+, which
broke after China vowed to take strong countermeasures if the US issues a new
sanctions list. Although the contract failed to test resistance at 120-00+ (High
June 7).
- The belly of the curve has experienced some slight outperformance.
- Late on Monday new NY Fed Pres Williams offered little new, as he noted that
he sees strong economic growth & a strong labour market, with inflation near the
Fed's goal.
- Fed non-voter Bullard is due to speak on Tuesday.
- The Eurodollar strip has followed Tsys higher.
- T-Notes last 119.28+, US 10-Year Tsy yield last at 2.886%.
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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