After post-July minutes chop, Tsys.....>

US TSY FLOWS: After post-July minutes chop, Tsys extended session highs briefly

-- despite minutes that came off less dovish than hoped, underscoring mid-cycle

adjustment. Curves flatter while 2Y10Y nears inversion again. Equities

stubbornly held near session highs; gold weaker but still over 1502.0.

- Late Tsy futures blocks initially pushed long end lower after the bell w/

-2,605 WNZ 193-22, sell through 193-29 post-time bid, long end bouncing off lows

after +4,936 USZ 163-31, buy through 163-25 post-time offer.

- Algos kept getting triggered on this type of headline: "TRUMP SAYS U.S. WILL

`PROBABLY' MAKE A DEAL WITH CHINA" bbg Tsys reversed support after gradually

trading higher in long end (appr -50k TYU on move) Equities took in stride, held

narrow range near highs. Rate rebound resumed about 40 minutes later, prop and

fast$ bought shorts to intermediates. Focus back on Friday's Jackson Hole

economic symposium.

- The 2-Yr yield is up 5.9bps at 1.5713%, 5-Yr is up 3.4bps at 1.467%, 10-Yr is

up 2.4bps at 1.5791%, and 30-Yr is up 2.5bps at 2.062%.