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On the wings of doves, carry-over......>

US TSY FLOWS
US TSY FLOWS: On the wings of doves, carry-over post-FOMC support, Tsys continue
to grind higher (moderate volume, TYM>345k), yld curves mostly flatter now,
3M10Y continues to fall after Wed's >9.0 bp move, currently -2.147 at 3.864,
probability of recession in medium term on the rise.
- US$ index rebound (DXY +.394, 96.154); equities weaker -- concern over waning
economic growth outweighing monetary accommodation for moment (SPX -11.75,
2815.250).
- Overnight flow included two-way option-tied flow, macro fund sellers 5s, long
end steepeners, fast$ two-way in shorts to intermediates.
- On tap for Thu: Wkly claims; Mar Philly Fed Mfg Index; Leading Indicators for
Feb; natural gas stocks; Fed wkly securities holdings for Mar. 
- Tsy cash/ylds: 2Y 100-07.12 (2.381%), 5Y 100-10.75 (2.301%), 10Y 101-02.5
(2.499%), 30Y 100-27.5 (2.956%).

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