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*** Broadly higher by the bell,.....>

US TSYS SUMMARY: *** Broadly higher by the bell, off post-Draghi highs, lvls
rebound late after some consolidation during second half. Delayed react to
dovish ECB Draghi comments after steady policy annc earlier; weaker equities
(emini -2.25, 2461.5) and USD, strong move gold (1349.79/H) added to risk-off.
- Little react to wkly claims +62k to 298K, Tsys ratcheted higher w/EGBs. Flow
included prop and fast$ buying 5s and 10s, bank port', real$ buying 10s, 30s,
stops triggered on way up, fast$ sales short end. Second round of buying late
morning w/real$, bank and insurance portfolio buying long end prop, fast- and
real$ buying 5s and 10s, 5- and 10s vs. 30s flatteners. Sporadic profit taking
on way up, deal-tied selling and rate paying as spd curve flattened. Another
decent copr supply day >$16B, $55B on week!
- USD/Yen tested 10M lows (108.34), as did 10- and 30Y Tsy ylds (2.035% and
2.653% resp); sovereign peripherals mostly tighter vs. Bunds.
- Swap spds wider early, modest paying in 2s, 5s and 10s w/5- and 10yr spds
2-3bp wider, appr 4-wk highs, ongoing repo specials that adds to widening. 
- 3pm ET: 2Y 1.266%, 3Y 1.372%, 5Y 1.630%, 7Y 1.875%, 10Y 2.049%, 30Y 2.667%

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