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Rates extend late overnight highs w/...>

US TSY FLOWS
US TSY FLOWS: Rates extend late overnight highs w/ equities making new lows
heading into NY open, volume still modest but improving last half hour
(TYM>325k), still generally quiet ahead FOMC minutes for Mar 30/Apr 1 meeting
later today.
- Tsy yld curves mostly steeper, 3M10Y off inversion but scaling back recent
steepening (-1.094 at 2.713). CBoE vol index (VIX) little firmer (+0.26, 15.21);
equities near recent lows (ESM9 -12.75).
- Overnight flow includes fast$/prop buying short end, swap and leveraged acct
selling intermediates earlier.
- On tap for Wednesday: Q4 QCEW employment; crude oil stocks ex. SPR w/w; April
30/May 1 FOMC minutes.
- The 2-Yr yield is down 2.3bps at 2.231%, 5-Yr is down 2bps at 2.2062%, 10-Yr
is down 1.8bps at 2.4086%, and 30-Yr is down 1.2bps at 2.8315%.

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