Late risk-off panic buying.....>

US TSY FUTURES CLOSE: Late risk-off panic buying that drove 10YY and 30YY yields

to new all-time lows (10YY 0.9043%; 30YY 1.5041%) cooled off slightly as the

rout in equities lost momentum in late trade. Markets doing their best to price

in another rate cut at the Mar17-18 FOMC after the FOMC's first intermeeting

rate cut since October 2008. Yld curves surged steeper 3M10Y off inversion.

Update: 

* 3M10Y  +8.684, 4.8660 (L: -11.356 / H: 13.517)

* 2Y10Y  +3.790, 29.432 (L: 24.193 / H: 32.885)

* 2Y30Y  +9.627, 91.078 (L: 79.998 / H: 93.657)

* 5Y30Y  +9.334, 86.955 (L: 76.649 / H: 88.269); Current futures levels:

* Jun 2-Yr futures up 6/32  at 109-14.125 (L: 109-02.12 / H: 109-19)

* Jun 5-Yr futures up 18.5/32  at 123-18 (L: 122-16 / H: 124-00)

* Jun 10-Yr futures up 26.5/32  at 135-30 (L: 134-09 / H: 136-23)

* Jun 30-Yr futures up 1-6/32  at 172-9 (L: 169-00 / H: 174-16)

* Jun Ultra futures up 29/32  at 209-2 (L: 203-27 / H: 213-25)