It has been a relatively quiet......>

US TSYS SUMMARY: It has been a relatively quiet session with limited economic

data and newsflow quite light.

- UST cash yields are flat in the short/belly and have pushed higher at the

longer end. Current yield levels: 2-year 0.182%, 5-year 0.358%, 10-year 0.638%,

30-year 1.300%.

- The euro dollar futures strip is broadly up 1.5-2.0ticks in whites through

blues. 

- Reflecting the severe hit to economic activity in general, and the aviation

industry in particular, GE today announced a hefty 10,000 job cuts. As a

bellwether for the industrial sector, the GE labour downsizing adds to the gloom

around the economic outlook.

- Tomorrow will see the release of the ISM non-manufacturing index for April,

trade balance data for March and final April prints for the Markit services and

composite PMIs.