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In line with European markets,......>

US TSYS SUMMARY
US TSYS SUMMARY: In line with European markets, USTs have sold-off this morning
with the curve bear steepening. The very long-end of the curve is leading the
charge with the 30-year benchmark yield up 5bp on the day.
- Current yield levels: 2-year 1.567%, 5-year 1.464%, 10-year 1.598%, 30-year
2.076%.
- TYZ9 trades at 131-00, near the bottom of the day's range.
- The data calendar is light with just consumer credit for July being released
at 2000 GMT.
- Focus this week will be on the ECB. Despite the market expecting a package of
policy easing measures to be delivered, doubts over the size of any potential QE
programme have started to emerge. The Fed is due up on September 18, with some
speculation over whether the FOMC will opt for a 25bp or 50bp cut.

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