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Generally quiet rebound in rates.......>

US TSY/RECAP: Generally quiet rebound in rates after Wed's heavy sell-off,
levels off first half highs by the close. 
- Little to no market reaction to various Fed speakers on the day, Fed Williams,
Mester, George & Rosengren to speak on Friday. 
- Tsys held steady/higher levels after $29B 7Y auction tailed slightly at 2.839%
rate vs. 2.832% WI.
- Swap spreads were tighter across the curve, with the short end leading move
all session, while intermediates make good second half attempt to catch up on
back of decent swappable issuance on day.
- Ongoing heavy March/June roll activity, near 1M total in both FVH/FVM and
TYH/TYM rolls late.
- T-Notes last at 120.12, 10-Year yield last 2.921%.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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