BMO's Ian Lyngen said "Thursday....>

US TSYS/RESEARCH: BMO's Ian Lyngen said "Thursday was a classic inside-day" in

Treasuries trading "ahead of what holds the potential to be a pivotal monetary

policy event, although we continue to expect that the key speeches from Yellen

and Draghi" Friday "will come and go without any ground breaking revelations." 

- "That said, even if we had both speeches in hand at this moment, we'd probably

still get the market's reaction wrong - barring, of course, a decided reversal

in tone from either of the world's two most relevant central bankers," he said.

'We don't say that too glibly and in fact with Treasury yields near the bottom

of the range, it's difficult to gauge just how much of a 'more of the same' tone

is already reflected in the price action."