Rates trade stronger after the bell,...>

US TSY FLOWS: Rates trade stronger after the bell, off top end of range, small

concession to the risk-off unwind tone spurred on by rebound in equities after

Pres Trump said considering "AUTO-TARIFF DELAY UP TO SIX MONTHS". Rates shrug

off move -- reminder, there are still geo/pol concerns tied to Mideast tensions,

even as Trump admin attempts to contain US/China trade war angst. 

- Tsy yld curves mixed, 3M10Y extends inversion -4.033 at -2.701 (L: -4.801/H:

1.189). VIX weaker/near lows (-1.53, 16.53/19.15H); equities firmer/near highs

(ESM9 +16.5, 2855.75).

- Flow: ongoing Jun/Sep Tsy rolling, spike in deal-tied hedging, bank and real$

buying intermediates to long end.

- On tap for Thursday: On tap for Thursday: Weekly jobless claims; Apr housing

starts and building permits; May NY Fed Business Leaders Index and Philadelphia

Fed Mfg Index.

- The 2-Yr yield is down 3.1bps at 2.1657%, 5-Yr is down 3.7bps at 2.1514%,

10-Yr is down 3.5bps at 2.375%, and 30-Yr is down 2.6bps at 2.8223%.