Relative quiet end to hectic........>

US TSYS SUMMARY: Relative quiet end to hectic week, belying wide session range

w/futures mildly higher by the closing bell, seeing late rebound as equities

resumed slide (eminis falling to 2601.75L). 

- Potential risk events: Fed out of media blackout. Trio of Fed presidents

w/Bostic, Kaplan and Kashkari all supported Wed's rate hike, Kaplan expects 2018

will be a year of "strong growth". US Pres Trump conference annc signing of

$1.3T spending bill w/reservations. Little new info on Thu's China tariff annc:

Trade Office has 15 days to post offending China exports, 60 days to "propose

actions beyond CFIUS" (Comm on Frgn Invest in US) "to address concerns about

unfair acquisitions by China in U.S.". Muted China response w/$3B in tariffs to

US.

- Despite early chop, steepener interest in futures interest in futures and

conditional options packages noted. Two-way flow with better fast- and real$

buying short end, prop acct selling 5s, light deal-tied selling.

- Late ylds: 2Y 2.254%, 3Y 2.402%, 5Y 2.603%, 7Y 2.740%, 10Y 2.819%, 30Y 3.067%