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U.S. Treasuries stabilized after the previous day’s selloff.
Monday’s selloff was driven by improved sentiment and by participants’ bracing for significant short- and medium-term Treasury issuance this week, said Pepperstone’s Michael Brown in a note.
The Treasury will kick off this week’s auctions with a $69 billion offer in two-year notes on Tuesday, followed by $70 billion in five-year notes on Wednesday and $44 billion in seven-year notes on Thursday.
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