*** Quiet end to a hectic week,.....>

US TSYS SUMMARY: *** Quiet end to a hectic week, rates opened mildly weaker and

continued to extend session lows into midday, off lows by the bell. Fed speakers

quiet after Fed chair Powell's inaugural Mon/Pol testimony, data calendar

limited. No word from WH after late Thu's metals tariff intentions while Canada,

Europe continued to outline defensive positions.

- US$ index continued to slip lower (DXY -.352, 89.972); S&P futures near steady

while DJIA fell 180.0 to 24,428; Gold firmer (XAU +5.13, 1322.05); West Texas

crude firmer/off lows (WTI +.38, 61.37).

- Flow sporadic, waves of selling across the curve, fast$ joining real$ and bank

portfolio selling in 5s, 10s and 30s, long end extending new session lows into

midday.

- Eurodlr futures progressively weaker across the strip, short end outperforming

but well off early session highs. Renewed bid in short end after 3M LIBOR set,

pace of higher sets slowing, spurring short-covering. Note, probability for rate

hike at March FOMC remains around 95%. 

- Late ylds: 2Y 2.240%, 3Y 2.396%, 5Y 2.628%, 7Y 2.787%, 10Y 2.859%, 30Y 3.132%