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Yields marginally softer in early cash......>

US TSYS: Yields marginally softer in early cash trade, sitting 0.5-0.9bp lower
at writing, with T-Notes at the top of their tight range, last 0-06+ at 129-20+.
- Selling of the TYV9 129.00 puts has provided the highlight on the flow side
thus far.
- Trump's discussions of middle class tax cuts over the next year or so, the
potential for a meeting with North Korean leader Kim and a reaffirmation of his
preference for a "full" deal with China, but the opening of the potential for an
"interim" deal, or at least the consideration of one, have done little to move
the market.
- Also worth reiterating that Tsy Sec Mnuchin flagged to potential for 50-Year
bond issuance, if demand allows, a couple of times over the last 12 hours or so.
- Eurodollar futures 0.25-2.5 ticks higher through the reds.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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