A big day lies ahead, with Q1 GDP...>

US TSYS SUMMARY: A big day lies ahead, with Q1 GDP data to chew over (though

it's like looking in the rear-view mirror), and the FOMC decision at 1400ET.

- In the meantime, Tsys have headed higher in the European morning after slight

weakness in the Asia-Pac session. Some eyeing month-end rotation into bonds for

helping boost Tsys, with European core govvies also benefiting.

- The 2-Yr yield is down 1.6bps at 0.1955%, 5-Yr is down 2.7bps at 0.3482%,

10-Yr is down 2.5bps at 0.5875%, and 30-Yr is down 3bps at 1.1744%.

- Jun 10-Yr futures (TY) near highs, up 5.5/32 at 139-06 (L: 138-30 / H: 139-07)

- Q1 adv GDP at 0830ET, -4.0 Q/Q SAAR expected though range from flat to -1.0%. 

- Weekly mortgage Apps at 0700ET and Mar pending home sales at 1000ET too.

- And on FOMC: substantive policy action is unlikely but plenty of interest on

unconventional facilities/Fed's outlook on the economy. Let us know if you

haven't seen MNI's full preview. Powell presser at 1430ET.

- Just $7bln in NY Fed buys today, in 4.5Y-7Y segment (results 1030ET).

- In supply, total of $80bln in bill sales today; no Tsy auctions.