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Rates weaker, near low end narrow......>

US TSY FLOWS
US TSY FLOWS: Rates weaker, near low end narrow overnight range, moderate
futures volume (TYH appr 300k), yld curves mildly flatter. Equities weaker, near
London lows (SPX -13.5 2650.0); US$ index mildly bid/near mid-range (DXY +.037,
95.831).
- Very quiet start to wk w/Jan Dallas Fed mfg index; 13- and 26W bill, 2- and 5Y
note auctions. BLS, Fed, and private-sector data releases remain unaffected --
FOMC policy annc, jobs report, mfg ISM, auto sales for NA and China/U.S. trade
talks are highlights for wk ahead.
- Overnight flow includes swap-tied selling in 3s, two-way in front
intermediates, CB buying 30s, deal- and pre-auction hedging, mild flatteners (2s
vs. 5s and 10s) from fast$.
- Tsy cash/ylds: 2Y 99-25.5 (2.606%), 5Y 100-03.5 (2.599%), 10Y 103-03.5
(2.758%), 30Y 105-31.5 (3.066%).

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