Quiet start to the week, Tsys.......>

US TSYS SUMMARY: Quiet start to the week, Tsys trade steady/mixed on narrow

range into the close, curves see-saw flatter. General risk-on following Tsy Sec

Mnuchin comments over weekend China trade war "postponed" on lower tariffs,

stocks surge. Quiet start to wk w/ trio of Fed speakers answering audience Q&A

at separate events, second-tier data Tue, focus on May 1-2 FOMC minutes on Wed. 

- The USD index mildly higher/off highs (DXY +0.42, 93.679), US$/Yen +.32,

111.10; stocks strong (emini +18.25, 2731.25); West Texas crude near late

session highs (WTI +1.08, 72.36); gold near steady (XAU -0.20, 1292.34).

- Jun/Sep Tsy futures roll-volume picking up, inflating volumes, June Tsy option

volume up ahead Fri's expiration. Large limited downside put buys (+50k) Green

Jun Eurodollar 66/67/68 put flys at 2.5.

- Little/no react to Fed speakers: Fed Bostic looking for two more hikes this

year, Fed Harker says economy "clicking along just fine".

- Italy, Portugal, Spain 10Y spds vs Bunds surging wider.

- Tsy cash/ylds: 2Y 99-20.25 (2.566%), 5Y 99-10.5 (2.895%), 10Y 98-13 (3.061%),

30Y 98-16 (3.202%)