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Newsflow overnight was again........>

US TSYS SUMMARY
US TSYS SUMMARY: Newsflow overnight was again dominated by Iran headlines,
though Tsys began European trading on the back foot, only now pushing higher.
- Tsys spiked/equities dropped around 0230ET on headlines that Iran was
assessing 13 "retaliation scenarios" vs U.S., but this was short-lived, with
Tsys moving to session lows and equities to session highs 1.5 hours later.
- But Tsys have bounced and again nearing day`s highs: Mar TYs up 1.5/32 at
129-9.5 (L: 129-05 / H: 129-11), and on decent volume (350k+ by 0630ET).
- Curve fairly flat: 2-Yr yield is down 0.6bps at 1.5384%, 5-Yr down 0.3bps at
1.6025%, 10-Yr down 0.5bps at 1.8038%, 30-Yr down 0.4bps at 2.2815%.
- Nov trade balance data at 0830ET, while 1000ET sees Nov factory orders and Dec
ISM non-manufacturing numbers.
- $38B 3Yr note auction at 1300ET.
- No Fed speakers scheduled today.

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