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Sharp/fast risk-off move in second.....>

US TSY FLOWS
US TSY FLOWS: Sharp/fast risk-off move in second half, trade related as Chinese
Ag delegation unexpectedly canceled field trip to Montana farms. Choppy late
trade as markets sought clarity on whether trade negotiations were stalled,
broken or just a scheduling conflict. Tsys continued to surge into late
electronic trade (30YY -.0703 to 2.1574%; 10YY -.0642 to 1.7198%), Yld curves
flatter, 3M10Y extending move, while equities started to slide again, ESU9
-16.0.
- There may be more to the US/China trade story after China delegation canceled
Montana field trip today, but no additional details as yet. 
- Fifth consecutive repurchase operation announced by the NYFR for Friday --
NYFR annc $75B daily opns' through October 10, three 14 day term opns' of $30B
each on 10/8, 10/10 and 10/11.
- Overall market volumes very light ahead weekend, pick-up in activity around
gap moves, a lot of program squaring into weekend.
- The 2-Yr yield is down 5.7bps at 1.6809%, 5-Yr is down 6.1bps at 1.5985%,
10-Yr is down 6.8bps at 1.7163%, and 30-Yr is down 7.5bps at 2.1525%.

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