Treasury to raise $730 bln before year-end

The US Treasury expects to raise $350 bln this quarter and $380 bln between October and December.

The market has confounded expectations by trading near record low yields at the short-end of the curve despite unprecedented levels of borrowing by Uncle Sam.

With about 60 minutes to go before cash markets on Wall St, EUR/USD trades at 1.3172 with cable at 1.5885.

Commodity currencies are firm but not as firm as their European counterparts. AUD is at 1.9125, CAD at 1.0240.