Mostly lower after the bell, yld.......>

US TSY FLOWS: Mostly lower after the bell, yld curves steeper with short end

outperforming. Overall a quiet end to another hectic mostly risk-off wk. Eyes on

next wk's July FOMC minutes, Jackson Hole symposium both on Wed; limited data:

existing home sales, leading index and new home sales. Equities firmer (EDU9

+37.75), gold lower (-11.06 at 1512.28).

- At odds with Pres Trump and advisor Navarro, speaking on CNN, Mn Fed President

Kashkari: "SIGNALS ON ECONOMY ARE MIXED RIGHT NOW", trade war "spooking

investment". Early risk-on tone, rates were trading little weaker but bounced

off lows into the NY session, muted react to latest round of data w/ futures

drifting steady/mixed. 

- Yld curves still steeper but scaling back some as intermediate to long end Tsy

futures inching off lows in late trade, lightest volume for the week (TYU just

over 1.2M), largely prop, fast$ accts squaring up for weekend. Sep/Dec roll

vlume remains modest but adding slightly to whole.

- The 2-Yr yield is down 1.1bps at 1.4845%, 5-Yr is down 0.2bps at 1.4218%,

10-Yr is up 2.4bps at 1.5504%, and 30-Yr is up 4.4bps at 2.0165%.