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Whip-Saw, China Headlines, 50Y Bond Talk

US TSY FUTURES
Choppy trade, rates traded were near recent highs after China "genocide": Reuters headline:
  • "POMPEO SAYS CHINA'S GENOCIDE AND CRIMES AGAINST HUMANITY INCLUDE ARBITRARY IMPRISONMENT OF MORE THAN ONE MILLION CIVILIANS AND ARE STILL ONGOING"
But futures reverse support after Yellen discusses extending duration to 50Y Bond, would "be pleased to look at issue". Yld curves moving steeper as long end support evaporates. Latest levels:
  • 3M10Y +1.707, 101.942 (L: 100.921 / H: 103.9)
  • 2Y10Y +2.107, 96.75 (L: 95.358 / H: 97.82)
  • 2Y30Y +2.304, 171.911 (L: 169.949 / H: 172.818)
  • 5Y30Y +1.418, 139.558 (L: 137.937 / H: 140.086)
  • Current futures levels:
  • Mar 2Y up 0.25/32 at 110-14.625 (L: 110-14 / H: 110-14.75)
  • Mar 5Y up 0.5/32 at 125-23.5 (L: 125-19.75 / H: 125-24.25)
  • Mar 10Y steady at at 136-27.5 (L: 136-21 / H: 136-31.5)
  • Mar 30Y down 2/32 at 168-24 (L: 168-10 / H: 169-08)
  • Mar Ultra 30Y up 1/32 at 205-7 (L: 204-12 / H: 206-05)

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