*** /FLOWS: Buckle up...Tsys ready...>

US TSY FUTURES: *** /FLOWS: Buckle up...Tsys ready to make another leg

lower/extend lows. Sources note sell stops not far below with some accts not

positioned the right way going into the weekend. Desks not really seeing the

sellers on today's move despite the volume. 

- Earlier in week we noted Japanese funds, bank/insurance funds were partly

behind the bid in Tsys during July-August, bought most in 3 years -- but they

have been conspicuously absent last 3 weeks, thus the retrace that has been

spurring some position unwinds along the way. Seems too far/too fast scenario as

global slow down tied to US/China trade remains despite the "considering"

concessions chatter by both parties. Nevertheless, Tsy futures just now making

new session/month lows. Yld curves extend steepening, 3M10Y still inverted but

back to single digits vs. >12 year low of -55.0 just 3 weeks ago. Update: 

* 3M10Y  +11.041, -7.693 (L: -21.217 / H: -7.626). Current futures levels:

* Dec 10-Yr futures down 22/32  at 128-24 (L: 128-24 / H: 129-21.5)

* Dec 30-Yr futures down 1-26/32  at 158-00 (L: 158-00 / H: 160-07)

* Dec Ultra futures down 3-01/32  at 184-07 (L: 184-06 / H: 187-27)