*** Cash Treasuries march higher.......>

US TSY FLOWS: *** Cash Treasuries march higher amid technical buyers in 10Y Tsy

futures (TYZ) once overnight price range broken to the upside, as contract

marched above 125-07; that triggered buy-stops. As noted in 9:53am ET bullet,

there was about 45K TYZ7 traded on the move from 125-06 to 125-10; issue now at

125-11. 

- There also was a large block buy of 18,712 TYZ7 at 125-03+ done at 8:39am ET.

And had been some large sell German futures/vs. buy Tsy blocks done, starting

with a 5Y trade in early Europe then a 10Y trade before UK lunch.

- The cash 10-year Tsy note is now at 2.328%, vs. 200-day moving average of

2.3179%, 100-day average of 2.318%. Cash Tsys also seeing active curve

flatteners done: 2/30Y for example is flatter by 3.5 bps on the day at +135.80;

but 5/30Y also sees flatteners done too, now at +92.70.