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More of a risk-off unwind than a.......>

US TSY FLOWS
US TSY FLOWS: More of a risk-off unwind than a strong risk-on move, Tsys trades
weaker into the NY open, futures off early London session lows, volumes
moderating as Sep/Dec Tsy futures roll nearly run it's course (Dec takes lead
Friday). 
- Desks citing month end support for equities, improved political outlook for
Italy, while China said they would not retaliate, trade tensions could spike at
any time.
- Generally quiet late summer trade, two-way in the intermediates ahead extended
holiday weekend in US, better selling from real$ in long end, month end flow,
light deal-tied selling and pre-auction short sets in 7s.
- The 2-Yr yield is up 2.6bps at 1.526%, 5-Yr is up 1.4bps at 1.393%, 10-Yr is
up 1.7bps at 1.4962%, and 30-Yr is up 0.1bps at 1.972%.

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