Quiet end to the week with rates.......>

US TSY FLOWS: Quiet end to the week with rates weaker by the bell (but climbing

higher after headline: "U.S. VIRUS CASES RISE 4.4%, ABOVE PAST WEEK'S AVERAGE OF

2.9%") on light volumes with much of Europe out for May day holiday. Few minutes

prior, Trump annc "FDA HAS APPROVED GILEAD DRUG FOR EMERGENCY USE" Bbg.

- Modest bid after ISM Mfg index plunged to 41.5 in April, the lowest level

since Apr 2009.

- NY Fed lowers daily avg Tsy sec buys to $8B next wk from $10B this wk

- Eurodollar futures Whites-Greens were modestly weaker/session lows after

volume spike in late trade: w/over 60,000 Dec'20 from 99.67-.665, appr half the

days volume, as well as appr 16,500 Mar'21 from 99.725-.72.

- The 2-Yr yield is up 0.4bps at 0.1998%, 5-Yr is down 0.5bps at 0.3576%, 10-Yr

is down 1.7bps at 0.6228%, and 30-Yr is down 2.7bps at 1.2583%.