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Weaker - Again

US TSY FLOWS
US Tsy futures trading weaker again, near midmorning lows -- still an inside range.
  • At the moment, 30YY at 2.1243% +0.0125; 10YY 1.7851% +0.0161.
  • Yield curves mixed with short end steeper vs. long end (5s30s -1.0 at 54.06).
  • While large recent 5Y Block sale (-14,173k FVH2 119-17.25) helped trigger the move, trading desks report domestic real$ selling 2s and buying 5s.
  • While Russia/Ukraine headlines have been cited for helping pare gains in equities earlier (and supportive of crude prices), modest swings in rates more tied to short-term tactical trades, late positioning ahead the FOMC policy annc at 1400ET and Fed chair presser 30 minutes later.

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