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Exceptionally quiet start to the.......>

US TSY FLOWS
US TSY FLOWS: Exceptionally quiet start to the week (Fed in blackout, little
data) on very light volume (TYU<720k by the closing bell). Data picks up
tomorrow w/ existing home sales; US Tsy $40B 2Y note auction (9128287F1) kicks
off the week's Tsy supply.
- Tsy yld curves off flatter levels; equities extended session highs late but
quickly receded (2993.5H); Gold inched higher but remains well off last week's
highs (1427.46 in late trade)
- Light two-way flow on net, Tsys mirrored EGBs earlier, support evaporated
later in second half amid preemptive supply related selling. short end extending
session lows late EDU9 -0.035 to 97.87 (only on light volume though w/appr -15k
from 97.88 to .875; total EDU9 volume just over 200k).
- Note, 3M FRA/OIS forged wider, breached 28.00 first time since early January.
- The 2-Yr yield is down 0.4bps at 1.8144%, 5-Yr is down 1.5bps at 1.7997%,
10-Yr is down 0.9bps at 2.0464%, and 30-Yr is down 0.4bps at 2.5748%.

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