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Sharply lower/off lows after...>

US TSY FUTURES CLOSE
US TSY FUTURES CLOSE: Sharply lower/off lows after extending range in second
half, volume tapering off after heavy first half trade. Total TYZ VWAP 125-16,
volume on day 1.82M, 125-16 leads w/332k. Massive Block post snuck into line up
by CME, 10s/Ultra steepener Block at 0925:04ET: +52k TYZ 125-16.5 vs. -14 WNZ,
165-11, appr $4M DV01. VWAP on session 125-17, high volume price of 125-17
w/310k. TYZ/WNZ steepener helped turn mkt. Buying off lows as Yen regained some
ground vs. US$. Current futures levels:
* Dec Ultra bonds down 2-23/32 at 164-31 (164-23L/167-20H)
* Dec 30-yr Bond futures down 1-25/32 at 153-00 (152-24L/154-25H)
* Dec 10-yr futures down 16/32 at 125-16 (125-10L/125-30.5H)
* Dec 5-yr futures down 7.5/32 at 117-18.75 (117-15L/117-25.5H)
* Dec 2-yr futures down 1.25/32 at 107-27.75 (107-26.5L/107-28.75H)

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